How high will inflation rates go? Learn what economists are saying about it with this special episode of The New Abnormal.
Economist Justin Wolfers shows whether inflation rates will doom us all-and why crypto bros want them to. The Bulwark’s Sarah Longwell predicts the future of the United States in 2024.
After Halloween, there’s another word that’s spookily frightening Americans these days: inflation. Rates have shot up more than in the past 30 years, and just before the holidays.
Is it actually a cause for concern?
The New Abnormal host Molly Jong Fast wanted to find out what Justin Wolfers had to say about it, so she invited him onto the latest episode to find out.
In two years’ time, he said, he reckoned we would look back and say that that was just a lot of noise about nothing, but the solution was unique to the pandemic.
Justin Wolfers commented that one of the most important things we could do was to vaccinate the globe. People usually talk about inflation, but we’ll talk about supply chain pressures, and nobody really knows what that means.
There is also a part of this which is factories in Asia and other manufacturing activities in low-income countries. When they get a couple of COVID cases, the factories cease to operate for a month.” Wolfers explains.
Then we run into issues. Along with anti-vax sentiment on the right, there are those who would like to see the economy crumble under President Joe Biden no matter what, including conservatives and cryptocurrency enthusiasts.
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