Fighting inflation: Combating a wage-price spiral could trigger a recession
Everyone wants to protect themselves from inflation. We will naturally act in our own self-interests by asking for higher earnings to counter higher prices. But we need public institutions – like the Federal Reserve – to look at the big picture. We want to avoid a wage-price spiral and put the economy to on a path to grow with much lower inflation. This is a tall order.
Copy and paste this URL into your WordPress site to embed
Copy and paste this code into your site to embed