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Despite seeing a robust economic bounce back to near pre-pandemic levels, prices in the US have surged over last year, causing concerns over inflation along with labor shortages and significant increases in the housing market. And with consumer spending focused on goods rather than services, global supply chains have all but come to a standstill . So, what is behind these unusual shifts, and how do they factor into the US economic recovery? Chicago Booth's Austan Goolsbee breaks it down for us.