Top US economists argue millions of Americans must loose their jobs to stop inflation. They couldn’t have it more wrong.
July 16, 2022 at 08:35 AM EDT
Last month, former Clinton administration Treasury Secretary Larry Summers gave a speech in London proclaiming that the US needed unemployment to be above 5% for five years to contain inflation. "In other words, we need two years of 7.5% unemployment, or five years of 6% unemployment, or one year … Source
