Bloomberg Markets and Finance published this video item, entitled “Massive Overheated Labor Market” – below is their description.
Former U.S. Treasury Secretary Lawrence H. Summers discusses why he believes our economy is overheating and what needs to be done to mitigate rising inflation.
Bloomberg Markets and Finance YouTube Channel
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About This Source - Bloomberg Markets and Finance
Bloomberg Markets and Finance features news about financial markets from around the world. Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.