Where is inflation? @mctaguej @thadmccotter @bernieandsid
"You're getting to a point where you are starting to see localized labour shortages and a natural reaction, finally," Gurria told Reuters in Bangkok.
"It’s good but normally you would have expected that you would have gotten positive signs of wage increases a long time before you are almost at full employment."
Gurria said that European and Japanese central banks in particular would need to keep monetary policy "on the lax side" for some time to encourage higher growth at a time of uncertainty.
"Inflation is the manifestation, it’s not the problem, it’s growth that is the problem," he said, pointing to weak demand, consumption and investment because people lacked confidence about the future.
JANET YELLEN DELEVERAGES, KNOWN UNKNOWNS, LIMITS OF FED ECONOMIC MODELS & WHO KILLED THE PHILLIPS CURVE
An authority on Civil-Military Relations; Southwest Asian Political Economy, and Pentagon Acquisition Reform .
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