Fed Unites Left and Right in Warning It’s Behind Inflation Curve
< < Go Back
The Federal Reserve has managed to do something that’s rarely seen in the U.S. these days: Get members of the Democratic and Republican parties to agree.
At this year’s annual meeting of the American Economic Association, prominent economists from both sides of the political spectrum argued that the Fed is behind the curve in the battle to contain an outburst of inflation in an economy still beset by a pandemic.
Among those chiming in at the three-day virtual conference that winds up on Sunday: Former Treasury Secretary Lawrence Summers and ex-White House chief economist Jason Furman — both Democrats — and noted monetary economist John Taylor and former Council of Economic Advisers Chairman Glenn Hubbard, who served in Republican administrations.
To be sure, not all economists — especially some on the left — are raising alarms about the inflation threat and the Fed’s delayed response to it.
More From Yahoo:
Rss Feed