MacroVoices #387 Jeff Snider: On Deflation and Soft Landing
Macro Voices
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The US Economy Isn't All That Great to Begin With
The unemployment rate in June 2019 was exactly the same as it was in June 2023, I think 3.6%. The data doesn't support that interpretation at all. In fact, you continue to look at some of the other, US real GDP on a long run basis. You can see we're way behind trends and falling further behind all the time. So the economy isn't all that great to begin with.
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