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Brad DeLong: 'Live long, & prosper!' Profile picture
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15 Jun, 4 tweets, 4 min read
@MaxKennerly @TheStalwart @markets We shouldn't be talking about inflation **at all** right now: we have much bigger fish to fry.

We should be talking about how we get 10M more workers back to work in þe right jobs as fast as possible, accepting þt we are leaving rubber on þe road as we do so, & postponing... 1/
@MaxKennerly @TheStalwart @markets ...worrying about inflation until 2023, when we will see where we are. Why? Because þe Fed has a straightforward way of reducing demand & cooling off inflation if it turns out þt demand is too high, but we have no good way of boosting demand if it turns out it is too low... 2/
@MaxKennerly @TheStalwart @markets ...Given þe enormous uncertainty, þe asymmetries þt emerge when you walk down þe strategy tree dominate. Until þose uncertainties resolve, no reasonable case for tightening immediately can be made. 3/END
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