Economics
Echoes of Swinging Sixties Fan Fears of Resurgent U.S. Inflation
- Unemployment heading down to levels last seen five decades ago
- Tax cuts, government spending again seen juicing growth
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U.S. unemployment looks to be headed down to levels last seen when The Monkees ruled the pop charts and Ford Mustangs roamed the roads. And that’s got some economists and investors worried.
Yes, it was the Swinging ’60s -- 1966 to be precise. Joblessness, which now stands at 4.1 percent, fell as low as 3.6 percent. That’s the same rate that Federal Reserve policy makers see the U.S. hitting at the end of next year. And inflation, after being quiescent for years, took off back then, virtually doubling over the year to 3 percent.