Wednesday, September 29

Larry Summers

Economy, Government Debt, Government Spending, inflation, inflation fears, inflation outlook, Larry Summers, Markets, Mitch McConnell, Policy, Politics, price growth

McConnell gives’kudos’ to Bill Clinton’s Treasury Secretary for warning about hyperinflation

McConnell gave former Treasury Sec. Larry Summers "kudos" on Monday for his comments about inflation. Summers, who served in the Clinton and Obama administrations, has repeatedly slammed Biden's spending. Summers continues to forecast dangerously high inflation, but signs point to price growth cooling in June. LoadingSomething is loading. ...
Central Bank, Economic Recovery, Economy, Fed, Federal Reserve, Full employment, Jerome Powell, Labor Market, Labor Markets, Lael Brainard, Larry Summers, Markets, maximum employment, monetary policy, Randal Quarles, Unemployment, US Labor Market

The government is pursuing’maximum employment’ for the first time. Here’s how it differs from’full employment’ and the risks it brings.

The Fed is targeting "maximum" employment over "full" employment in a major shift for the US economy. The new goal aims to bring forth a more equitable rebound, particularly for minorities and low-income households. This focus tests how many Americans can be hired before an inflationary spiral is set off. See more stories on Insider's business page. Maximum employment. Full employment. They may seem to be similar phrases, but they are dramatically different, in ways that could shape the US economy long after the pandemic ends.After decades of adhering to an agreed-upon employment threshold called full employment, the ...