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Is There a Way to Have a Labor Market Recovery Without Inflationary Pressures?
No one would have predicted sube four % unemployment so in early 20 22, or i guess we're w we're at four % right now. The rapid recovery of the labor market was certainly unexpected. And both the federal reserve and the us. Government dumped enormous amounts of resources into the economy on the assumption thatthat it would not recover very quicklya. My question is, in your view, was there a way to have this fast of a labor market recovery without inflationary pressures? Or are these inflationary pressures the inevitable brought by product of an economy that moved so fast back to normal?