Even if the Fed did succeed in the Herculean task for getting the unemployment rate down to 7 percent, we could never be sure that the unemployment rate was below what we call the 'natural rate,' in which case it would give rise to a rising inflation rate in the next few years, which would be disastrous for the economy.
Warren critiques past Fed predictions regarding unemployment and inflation.
Share & report
More from Elizabeth Warren
When consumers’ finances are already stretched thin, exorbitant overdraft fees can cause other payments to bounce — leading to even more fees in a vicious circle that can ‘turn setbacks into crises,’
When someone stands up and says, ‘I will lead this city by making it more affordable and here are my plans, real plans, plans to deliver on child care, plans to deliver on housing, plans to deliver; we’re going to experiment, we’re going…
Will you tell America that all adults and all children over 6 months of age are eligible to get a COVID booster at their local pharmacy today?
Other voices in this conversation
