We describe our recent calculation of two-loop corrections to the expa
nsion rate of an initially inflating universe on the manifold T-3 x R.
If correct, our result proves that quantum gravitational effects slow
the rate of inflation by an amount which becomes non-perturbatively l
arge at late times. In a preliminary discussion of basic issues we sho
w that the expansion rate is a gauge invariant and that our ultraviole
t regulator does not introduce spurious time dependence. We also deriv
e a sharp bound on the maximum strength of higher loop effects. (C) 19
97 Academic Press