Is the US Economy Recovering or Overheating? — J. Bradford DeLong

The fact that core inflation is rising on the back of substantial GDP growth and declining unemployment should not come as a surprise. Those who are wringing their hands about economic "overheating" should remember that an absence of price increases would reflect an economy that is still struggling.

Project Syndicate
Is the US Economy Recovering or Overheating?

J. Bradford DeLong | Professor of Economics, UCAL Berkeley