Those who believed inflation would be transitory were proven right, and those who demanded the sacrifice of mass unemployment proven wrong.
The Fed’s pursuit of its 2% inflation target will slow economic growth, repress wage gains, make almost everyone’s job less secure, and put us at risk for a recession.
A POLITICO analysis shows that pandemic-era policies reversed the trend toward a widening income gap. The move away from them threatens those gains. Which way will Biden turn?
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Our government has the tools to address the cost-of-living crisis. It just needs to use the right ones.
It would be irresponsible to create much higher unemployment – and the US economy could be pushed into recession. There is a strong argument for the Fed to take a break from its aggressive monetary-policy tightening.
We need to greatly expand the role of fiscal policy relative to monetary policy and address inflation while also promoting low unemployment, needed new investments, decent wages and a much fairer distribution of income and wealth.
The costs of recession are not simply limited to those workers who lose a job— they're incredibly widespread across the workforce.
New government data show that after the government terminated pandemic relief programs, millions more Americans began struggling to survive.
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