It’s hard to predict what will happen next with the global economy. It seems clear that the effects of the pandemic will linger for some time longer. I like to think of it like a pendulum or a Rubik’s cube. The initial disruption caused by the pandemic rearranged the cube in a way that has made it almost impossible to correct. Perhaps though, like a pendulum, the disruption will eventually subside. The big challenge now for economists is to find a way to reduce inflation without causing a recession. How that transpires will determine what happens next.