Larry Summers: ‘We're likely to require higher interest rates than the Fed now foresees’
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100 out of 100 see higher prices but not everybody realizes unemployment increases!!
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Interest rate increase may not be the answer to this inflation problem because it seems to stem in large part from labor and supply shortages at home and overseas, as we have seen with the auto industry. How does an increase in interest rates help resolve those shortages?
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Inflation expectations not even close to being under control, and some at Black Rock already saying Fed risks over tightening, before hiking. Is Black Rock talking its book?
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