Write an Abstract Introduction Literature Review Methodology Results and Findings Conclusion References (not included in the 4 pages). The paper is at least 4 pages long excluding the title and the reference pages and must follow APA 7th or 6th Edition format. It is crucial to cite the words and ideas of others in the text of your paper to avoid plagiarism. While preparing for the consequences of COVID-19 on the U.S. economy, the Fed targeted an increase of 2.3% in the personal consumption expenditure price index (PCEPI) by 2021 (Kliesen, 2021) but instead, in May 2021, consumer price inflation in America jumps up to 4.6% higher than expected (The Economist, 2021). With this, consumers have to pay more for the same basket of goods and services they had paid less for at pre-pandemic, and that reduces the level of their purchasing power.
