This week on #facingthefuture, Tori Gorman filled in for Bob Bixby as host and spoke with influential economist Claudia Sahm. Claudia’s resume includes important advisory roles with the Federal Reserve and the Council of Economic Advisors for the Obama Administration which makes her an ideal guest to weigh in on the current battle to fight inflation. Sahm has been quite critical of the Fed’s response to high inflation, calling the rapid increases in interest rates a “war on workers,” that will cost millions of workers their jobs and will likely induce a recession, both here and abroad.. While she says it is true that the factors that led us to high inflation are low interest rates for more than a decade and trillions of dollars in emergency pandemic related spending, the Fed only has very limited tools to influence the major force behind price spikes.
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