The New York Times published an article last month saying that a not so hot economy might be good news. Josh Marshall: The reality is right now, high wages are clearly not what's driving inflation. He says the only thing you can do about inflation is to have the Fed raise interest rates. Marshall: It's incredibly destructive because it says there's only this one tool which is really not well suited to the job.
In this Live Interview from 7/8/22, we break down US media's inflation discourse that places the blame for rising food and gas prices squarely on the shoulders of greedy Burger King cashiers living high on the government hog. With J.W. Mason, Associate Professor of Economics at John Jay College, City University of New York and a fellow at the Roosevelt Institute.