The employment data mirror other indicators of our strong recovery. And yet, news of this unprecedentedly rapid and successful recovery has been drowned out by the drumbeat of media coverage of inflation. There is simply no sensible rationale for such a disproportionate degree of media inflation hysteria. The tradeoff, of course, would be that we also would have had the much slower and weaker economic recovery of these countries. Inflation is high, but we’ve focused on it so much that we’ve lost the plot about the successful economic recovery.

Source: CNN May 17, 2022 15:51 UTC