Rent inflation, not wage increases. But the Fed only has a shotgun to use.
The Lens
The Rate Hikes Will Continue Until Morale Improves
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
One shotgun... and voting blue no matter who.
ReplyDeleteThis is what MMT has managed to imbue into the collective zeitgeist.
“ Buckle up! The rate hikes will continue (at least) until the economic recovery gives way to recession”
ReplyDeleteMMT calling recession…. write it down…
Atlanta Fed GDPNow still +1.3%…
Kelton has completely bought into the monetarist paradigm. Zero mention of rising fiscal transfers via the interest channel. Her "analysis" is pure monetarist b.s.
ReplyDeleteKelton is the new Meredith Whitney. Remember her? I didn't think so.
Oops… Atlanta Fed gdp now just dropped to 0.5%…
ReplyDelete