Why Today’s Inflation Challenge Would Have Flummoxed Even Paul Volcker

That explains a thing or two. We are referring, of course, to today’s Q2 productivity report that came in at -4.7%, on top of the -7.7% decline posted in Q1. Together they amount to the worst back-to-back productivity declines ever reported. Our point is that this development puts a whole new angle on the so-called […]
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