Reuters/Howard Schneider/9-7-2022
“The U.S. unemployment rate may need to reach as high as 7.5%, double its current level, to end the country’s outbreak of high inflation, according to new estimates from a team of researchers including two staff economists from the International Monetary Fund.”
USAGOLD note: A unemployment number that high signals that getting inflation under control might be considerably more painful on Main Street than most are contemplating.
