The numbers are bad—but they don’t make Larry Summers an oracle.
to the Phillips Curve, the theoretical tradeoff between unemployment and inflation economists have long used in forecasting)., the inflation we’ve experienced so far doesn’t really fit the standard textbook models. Yes, labor shortages have led pay to rise faster than usual, but not enough to explain this year’s surge in prices—especially since inflation has beenin labor-heavy service industries than in goods-producing sectors.
—ocean freight rates are falling, manufacturers are picking up production—which could bode well for inflation next year.To be clear, there are some people who take this point a bit too far, and try to argue that inflation has been caused entirely by supply-chain tangles, rather than government relief spending, which pretty clearly isn’t right either.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kanye West and Drake Squash Beef at Larry Hoover Concert in L.A.Kanye West and Drake have officially squashed their beef in the biggest of ways.
Read more »
After AWS outage, Larry Ellison says a major customer told him that Oracle's cloud 'never ever goes down'Oracle Chairman Larry Ellison used the end of the quarterly earnings call to tout his company's cloud in light of a major Amazon Web Services outage.
Read more »
J. Prince Convinced Drake and Kanye West They Can Save Lives with ConcertJ. Prince convinced Drake and Kanye West they can save lives with Larry Hoover benefit concert.
Read more »
What Does 7% Inflation Do To Your Bonds?If you own any Treasuries, take a grim look at what’s left after inflation and taxes.
Read more »
Consumer prices jump at fastest pace since 1982JUST IN: The consumer price index climbed some 6.8% over the last 12 months, marking the largest 12-month increase in nearly 40 years.
Read more »
Studiocanal, Beyond Rights, Passion Among Seven Distributors Joining Strong London TV Screenings LineupDistributors Beyond Rights, Blue Ant International, Cineflix Rights, DCD Rights, Hat Trick International, Passion Distribution, and Studiocanal have confirmed their participation at The London TV S…
Read more »