Ocasio-Cortez implies that, by raising interest rates out of a fear of illusory inflation, the Fed may have needlessly hurt American workers
Right on the money. Photo: Shutterstock There’s a strong case that the most important economic policy decisions of the past decade have been at the Federal Reserve.
Fortunately, the 2018 midterms brought some new Democrats to town. And the new generation is woke on monetary policy. Ocasio-Cortez: In early 2014, the Federal Reserve believed that the long run unemployment rate was around 5.4 percent. In early 2018, it as estimated that this was now lower, around 4.5 percent. Now, the estimate is around 4.2 percent. What is the current unemployment rate today?Ocasio 3.7 percent…Unemployment has fallen about three full points since 2014 but inflation is no higher today than it was five years ago.
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