The Fed Can’t Fix What’s Driving Inflation. But It Can Start a Recession.

The Fed Can’t Fix What’s Driving Inflation. But It Can Start a Recession.

Text size “Wages are not principally responsible for the inflation we’re seeing,” Federal Reserve Chairman Jerome Powell said Wednesday. Kevin Dietsch/Getty Images About the author: J.W. Mason is a professor of economics at John Jay College, City University of New York, and a fellow at the Roosevelt Institute. To careful listeners, there was something tragic …

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