NAIRU: not just bad economics, now also bad politics
Janet Yellen has long believed it’s possible for “too many” Americans to have jobs.
In her view, shared by many of her generation in the economics profession, consumer prices will rise too fast unless millions of people remain unemployed.
Matthew C Klein, FT Alphaville 24 January 2018
In her view, shared by many of her generation in the economics profession, consumer prices will rise too fast unless millions of people remain unemployed.
Matthew C Klein, FT Alphaville 24 January 2018
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