Red-hot inflation caused by US ‘throwing every log on fire at once,’ former Obama economist warns
Americans seeing ‘terrible inflation,’ Jason Furman stresses
Former Obama Economic Council Chairman Jason Furman discusses inflation hitting a 40-year high.
Former Obama Economic Council Chairman Jason Furman joined "Cavuto: Coast to Coast," Wednesday, arguing that the U.S. threw "every log on the fire at once," which caused red-hot inflation.
JASON FURMAN: I'm someone that believes in a low unemployment rate. I like the idea of running the economy hot. But boy, did we throw every log on the fire at once…almost start to burn the house down, and that's not a good way to go about it.
Jason Furman argues on FOX Business that Americans are seeing ‘terrible inflation.’ (istock / iStock)
It's hard to see how we go from where we are right now, which is 500,000 jobs a month and very strong demand to a recession…the thing the Fed is trying to do is cool down demand right now. There's so much extra demand out there that there's a lot of room to do that without causing a recession…I'm not super bearish on the economy in that respect. I'm just more worried about what the inflation means for people's real wages.
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Former Obama Economic Council Chairman Jason Furman argues that the U.S. threw ‘every log on fire at once,’ which caused red-hot inflation.