Archive for the ‘Inequality’ Category

Keep those Talons In, Fed Hawks!

August 7th, 2014

As the job market tightens, we may well see some increases in the pace of wage growth. I, and more importantly, millions of working people, certainly hope so. But predictably, pressure is building on the Federal Reserve to stomp out any such thing sooner than later, based on the fear that wage pressures will set off higher and… Read more

The Tradeoff between Inflation and Unemployment: What We Don’t Know Can Hurt Us

July 28th, 2014

To assert that economists are having trouble figuring out the relationship between inflation and unemployment is like saying chefs can’t figure out what to do with salt and pepper.  It’s that fundamental.  Yet, we’re befuddled, and that has powerful policy implications. For example, a prominent macro economist recently suggested to me that we must have… Read more