Produced by ‘The Ezra Klein Show’
Should we be celebrating a Biden boom? Lamenting inflation and its consequences? Both?
We know how to talk about booms, like the ’90s. We know how to talk about busts, like after the financial crisis. We know how to talk about stagnation. What we don’t know how to talk about is contradictory extremes coexisting together. But that’s the economy we have right now. And a lot rides on figuring out how to balance those extremes. Because if we solve inflation while killing the labor market, we’ll have blown a hole in our foot to save our hand.
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And so I wanted to talk today to Jason Furman, an economist at Harvard and the chair of Barack Obama’s Council of Economic Advisers from 2013 to 2017. What I appreciate about Jason is he doesn’t pretend the economy is only one thing…
