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The Graphic Truth: US inflation slows a bit, but ...

The US inflation rate for August was released on Tuesday and the figures are sure to cause anxiety in the White House. Overall, the consumer price index, which measures a range of consumer prices, rose 8.3% from the same time last year – 0.2% more than many economists anticipated – though it’s down from 8.5% in July and 9.1% in June.

Indeed, the latest findings surprised many analysts who predicted that the drop in US gas prices in recent months – down from $5 a gallon in June to a current national average of $3.70 – is a sign that the economy is cooling across the board.

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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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Ask An Economist: How to Lower Inflation | GZERO World

Ask An Economist: How to lower inflation

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

That depends on where you think the problem is coming from, American economist and University of Chicago professor Austan Goolsbee says on GZERO World with Ian Bremmer.

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

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Trump & Biden Spent Too Much On COVID Stimulus, Says Austan Goolsbee | GZERO World

Trump & Biden spent too much on COVID stimulus, says Austan Goolsbee

The brief recession the US economy experienced during the pandemic was arguably the weirdest one ever.

Why? Because it was "an unprecedentedly steep downturn [followed by] an unprecedentedly rapid comeback," says economist and University of Chicago professor Austan Goolsbee tells Ian Bremmer on GZERO World.

What's more, that recession was driven by less demand for theoretically recession-proof services instead of stuff like goods and real estate.

And then there was the government response.

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When High Inflation Meets High Job Rates | GZERO World

When high inflation meets high job rates

We live in odd economic times.

Polls show Americans now feeling so glum about the economy, yet okay about their individual finances?

Why? It's the unemployment, stupid, economist and University of Chicago professor Austan Goolsbee tells Ian Bremmer on GZERO World.

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Power to the Workers? What Historical Trends Suggest About Newfound Employee Influence | GZERO World

Power to the workers? What historical trends suggest about newfound employee influence

During the initial stages of COVID, Americans responded to shortages of basic items by making them domestically.

That's a blip that'll likely end once the economy (really) goes back to normal, says economist and University of Chicago professor Austan Goolsbee.

"Why," he asks Ian Bremmer on GZERO World, "do we have a giant warehouse full of socks that we made here that we could buy on the open market for one third the price, and we could just have shipped here when we need them?"

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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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Podcast: Making sense of global inflation, looming recession, & economists who disagree

Listen: Did US inflation come from supply, or did it come from demand? On the GZERO World podcast, Ian Bremmer speaks with economist and University of Chicago professor Austan Goolsbee about the causes of the current high levels of inflation in the US and around the world. If inflation is being driven by too much stimulus, as economists like Larry Summers believe, Goolsbee believes the Federal Reserve is doing the right thing by raising interest rates to cool demand. But if inflation is mostly due to the war in Ukraine or supply chain disruptions, rate hikes might result in stagflation.

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