Bernanke and Blanchard on the role of labor markets in the current inflationary episode:
Policymakers underestimated labor market tightness but "were initially more right than wrong in arguing that tight labor markets would not generate high inflation"
Bernanke and Blanchard on the role of labor markets in the current inflationary episode:
Policymakers underestimated labor market tightness but "were initially more right than wrong in arguing that tight labor markets would not generate high inflation"