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> Looks bad, but really who cares? People who will lose their jobs to the recession will care quite a bit. For most people, it's better to be employed in an in
by vkou 4y ago
> Looks bad, but really who cares?
People who will lose their jobs to the recession will care quite a bit. For most people, it's better to be employed in an inflationary environment, than unemployed and broke in a recession.
- tootie 4y agoI think you missed my point. The Fed will definitely react unemployment. That's their mandate. I'm specifically saying they won't react to GDP which is what defines a recession. Unemployment hurts. Inflation hurts. GDP is just a number. That's why the Fed has to balance inflation and employment. The current situation is that employment is very, very strong and even a substantial slowdown probably won't raise unemployment to unmanageable levels.