Domestic demand and tourism will suffer in Japan,says Bruce Kasman,an economist at JP Morgan.We don't know the exact size of this disaster yet.This disaster is gonna be very large and short-lived.The rebound will begin in April as production comes back on line.
We think there's a lot of resiliency in the supply chain and production.
Growth captures.After you destroy,you rebuild.
The spillover will be felt in the rest of Asia.The U.S. economy won't feel it very much.Other Asian economies will feel it quite sharply.
In the U.S.,oil and food prices will surprise the Fed with their effect on inflation,but they will not act for the next 3-6 months,Mr.Kasman predicted.
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