A Federal Reserve survey found consumers are expecting inflation to hit 4% next year.

The economists say they expect employment to recover and that recent price spikes for some consumer goods should moderate.

Retirees are living longer, the working-age population is shrinking and birthrates are down in the U.S.

In theory, the ingredients of economic growth are capital and investment. In practice, not so much.

Last year saw the worst decline for U.S. GDP in 74 years.

Besides the high costs of raising children, the cost of living is often cited as one of the key deterrents for young parents.

“If people don’t have money in their pockets, then this type of economy that we have can’t work,” says Wharton professor Mauro Guillén.

That makes it the first major economy to rebound since COVID-19 hit.

It depends on how you read the data, economist Megan Greene of Harvard says.

“We’re seeing the alarming cost of the lockdown,” Zanny Minton Beddoes said.