Biden advisor defends stimulus and inflation surge: ‘The real cause was the global pandemic’
Heather Boushey is a member of President Joe Biden's Council of Economic Advisers.
Heather Boushey is a member of President Joe Biden's Council of Economic Advisers.
Top Societe Generale economist Kokou Agbo-Bloua said: "The central banks need to trigger a recession ... but we're not there yet."
Goolsbee said he's confident inflation can be tamed without a recession, even with additional rate increases likely.
The overall U.S. unemployment rate inched lower in June, but a negative trend in employment among Black workers may be developing.
Nonfarm payrolls were expected to increase by 240,000 and the unemployment rate to fall to 3.6% in June.
The consensus estimate is that payrolls rose by another 240,000 in June and the unemployment rate is projected to nudge lower to 3.6%.
The closely watched JOLTS report showed that listings fell to 9.82 million, down 496,000 from April.
The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected.
In January, with one eye on a critical general election in 2024, U.K. Prime Minister Rishi Sunak vowed to halve inflation by the end of...