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The “new normal,” we believe, can be analyzed into two major categories: monetary and fiscal, on one hand, and technological, social, and political on the other.
In both categories, the “new normal” long predates the pandemic, which has served mainly to accelerate (and exaggerate) trends that had already been underway for a long time.
Remote work will recede from its pandemic peaks, but will remain permanently elevated. So will e-commerce.