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106: A BIG 2023 Economic Forecast from Harvard's Jason Furman

On The Market

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The Wage Price Spiral and How It Ends

The happy way for it to end would be if inflation expectations are anchored and they serve as sort of a gravitational attraction. Unfortunately, the more common historical way that inflation goes away is with a recession. And my guess is we're not going to see inflation below 3%, unless we have a recession.

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