David Blanchflower, the Bruce V. Rauner Professor of Economics, was in the Bloomberg Television studios on October 31 to discuss consumer confidence, inflation, and labor markets in the U.S. and Europe.
As a guest on In the Loop, Blanchflower says, “We’ve seen data for the U.S. on consumer confidence that has just collapsed. The jobs numbers are worse than they were before. Data from Germany today is weakening, and the inflation numbers out today for Europe are scary.” In the U.S., says Blanchflower, “the Fed really needs to worry about the fact that inflation is too low.”
Sharing his expertise that same day on Bloomberg Television’s Surveillance, Blanchflower discusses the U.S. labor market and wages. He says, “If I was to say one thing that Fed watchers should be looking at it, it’s not the participation rate, it’s not the unemployment rate, it’s the wage rate. It’s real hourly earnings and they’re going no place.”