JOURNAL ARTICLE

Fed Needs to Cool Off Hot Job Market, Ex-Chair Bernanke Says.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Miller, Rich 3 of 3

Abstract

"With labor-market slack still below sustainable levels and inflation expectations modestly higher, we conclude that the Fed is unlikely to be able to avoid slowing the economy to return inflation to target", Bernanke and Blanchard wrote in their paper. The argument that Bernanke and Blanchard lay out in their paper about the evolution of inflation jibes with that put forward by Fed Chair Jerome Powell last week. (Bloomberg) -- The Federal Reserve needs to cool off the overheated labor market to tame inflation, though it's not clear how far unemployment must rise to achieve that, according to former Fed Chair Ben Bernanke and ex-International Monetary Fund Chief economist Olivier Blanchard. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/05, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2023
  • Accession Number:163889936
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