Toss out the college textbooks, because the world has changed.<\/p>\n\n\n\n
The unemployment rate? Forget it. The Fed only cares about the number of people working and how to get it higher, not an age-old statistic that, for all its familiarity, overlooks a key group, namely those who stopped looking for work during the pandemic and need to be brought back.<\/p>\n\n\n\n
Inflation? Not a problem anytime soon. Queried by Democratic U.S. Senator Mark Warner about the need to make \u201ca sizeable investment\u201d in U.S. infrastructure, Powell set aside classic concerns of hefty government borrowing driving up prices and responded \u201cthis is not a problem for this time as near as I can figure.\u201d Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Toss out the college textbooks, because the world has changed. The unemployment rate? Forget it. The Fed only cares about the number of people working and how to get it higher, not an age-old statistic that, for all its familiarity, overlooks a key group, namely those who stopped looking for work during the pandemic and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-1307","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/posts\/1307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/comments?post=1307"}],"version-history":[{"count":1,"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/posts\/1307\/revisions"}],"predecessor-version":[{"id":1308,"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/posts\/1307\/revisions\/1308"}],"wp:attachment":[{"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/media?parent=1307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/categories?post=1307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stefan.schleicher.at\/index.php\/wp-json\/wp\/v2\/tags?post=1307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}