Claudia Sahm on why we shouldn't be worried about inflation right now

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Manage episode 286059737 series 1542133
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Earlier this week, in a hearing on the state of America's economic recovery, Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee that the employment rate for low-wage workers—those hit hardest by the pandemic—is “probably above 20 percent.” With President Biden’s $1.9 trillion COVID relief package on the move in Congress, and with the first glimmers of what a $3 to $4 trillion infrastructure and jobs package might look like on the horizon to follow, Rebecca talks to Claudia Sahm, a senior fellow at the Jain Family Institute and a former economist at the Federal Reserve, about the economic debate over Biden’s COVID relief package, why we shouldn’t be worried about inflation right now, what concerns about "runaway inflation" have to do with the toxic culture of economics, and more.

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