Summers’ Take: ‘The More We Learn, It's Not Really True That the More We Know’
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Larry Summers, special contributor at Harvard, believes that despite the amount of economic data available, it is not necessarily true that the more we know, the more we understand. He points out that the employment cost index suggests that wage inflation is not decreasing, housing numbers indicate higher inflation than expected, and a soft jobs report implies that inflation may not accelerate. Summers also warns that a strong dollar may be masking the true extent of inflation, as people tend to focus on negative factors that elevate the inflation rate and ignore the transitory factors that flatter it.
https://www.bloomberg.com/news/newsletters/2024-05-04/the-fed-may-be-too-satisfied-with-the-status-quo-in-policy-larry-summers-says
Bloomberg /
npub187…70f8h
2024-05-04 14:53:53
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npub187n6qweaywrseqqr94653h8knmw2mjlucy06yk4qt4ygw9uekhss470f8hPublished at
2024-05-04 14:53:53Event JSON
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"content": "Summers’ Take: ‘The More We Learn, It's Not Really True That the More We Know’\n==========\n\nLarry Summers, special contributor at Harvard, believes that despite the amount of economic data available, it is not necessarily true that the more we know, the more we understand. He points out that the employment cost index suggests that wage inflation is not decreasing, housing numbers indicate higher inflation than expected, and a soft jobs report implies that inflation may not accelerate. Summers also warns that a strong dollar may be masking the true extent of inflation, as people tend to focus on negative factors that elevate the inflation rate and ignore the transitory factors that flatter it.\n\n\n\nhttps://www.bloomberg.com/news/newsletters/2024-05-04/the-fed-may-be-too-satisfied-with-the-status-quo-in-policy-larry-summers-says",
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