时态求教 OG11－45

wysmimi

45. According to some analysts, the gains in the stock market reflect growing confidence "that the economy will avoid the recession that many had feared earlier in the year and instead come" in for a "soft landing," followed by a gradual increase in business activity.
整句的时态是一般现在时，为什么句中从句用had feared earlier, rather than have feared earlier? confused
pls hlep!