Inflation & Prices
Larry Summers Doubts Inflation Will Fall Much in This Job Market
Lawrence Summers
Photographer: Ting Shen/BloombergThis article is for subscribers only.
Former Treasury Secretary Lawrence Summers says on Twitter the “JOLTS report shows a labor market that is cooling very slowly and will likely continue to be extraordinarily tight for some months to come.”
He adds that an unemployment rate around 2% would be consistent with the vacancies and quits rate. He doubts inflation will fall significantly given the tight labor market.