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What We Need To Know To Fix US Inflation | Economist Austan Goolsbee | GZERO World

What we need to know to fix US inflation

The recipe to fixing inflation depends on whether you see it as a demand or supply problem, economist and University of Chicago professor Austan Golsbee tells Ian Bremmer on GZERO World.

If inflation is being driven by too much stimulus, as economist Larry Summers believes, then the Federal Reserve is doing the right thing by raising interest rates to cool demand, Goolsbee explains. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

US inflation is at a 40-year high and is therefore drives the perception among Americans that the economy is bad.

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Explaining Inflation & What's Next For the US Economy | GZERO World with Ian Bremmer

Explaining inflation & what's next for the US economy

US inflation is now at a 40-year high. So, what can we do about it?

The Federal Reserve is trying to cool down the overheated economy by raising interest rates. But if the Fed goes too far, the rate hikes could trigger a recession that'll hit low-income Americans hardest.

On GZERO World, Ian Bremmer speaks to economist and University of Chicago professor Austan Goolsbee, who says the recipe to fixing inflation depends on whether you see it as a demand or supply problem.

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