Ben Bernanke: More Work Needed to Control Inflation.

Former Federal Reserve Chair Ben Bernanke and economist Olivier Blanchard argue in an academic paper that central bankers still have work to do to bring down inflation, which will entail slowing down the labor market. They suggest it's possible for the current Fed to orchestrate its way out of this predicament without severely tanking the US economy. The paper notes that inflation has evolved since ballooning to a 40-year high in the summer of 2022, and the new phase is now being pushed by a rise in wages trying to catch up to the surge in prices.