Remarks
Five Ways the Fed’s Deflation Playbook Could Be Improved
The Fed should congratulate itself for wrestling down inflation, but the process could use some improvement.
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Dear Jay,
Mazel tov! You beat inflation and avoided a recession. Revel in the sweet taste of victory as you fly-fish with other central bankers at the annual symposium in Jackson Hole, Wyoming. With inflation at 3.2%, unemployment at 3.5% and gross domestic product expected to top 3% in the third quarter, you’ve earned a vacation. Hell, take the rest of the year off!