Will the economy finally un-weird itself?

Let’s get this out of the way: the economy is not in bad shape at the moment.

The red hot labor market is cooling off a little, but it remains resilient. It’s the type of thing you’d want to see if the “soft landing” scenario we’re aiming for, where the economy slows down without going into negative territory, is going to happen. Inflation has moderated. Consumers are still hanging in there. The country’s GDP growth for the third quarter is expected to come in quite strong. It actually needs to slow a little bit if inflation is...