United States Is Able To Withstand Inflationary Pressures

"The Jobs Report for August 2022 provided good news to American workers, but too many people are convinced we are in a recession. The Employment Situation report saw an uptick in the labor market participation rate, but we are still slightly below prior to entering the pandemic. Employers' confidence in the economy is persistent near-term. The Federal Reserve wants to drive up prices and constrain employment growth. Larry Summers said that if we can get the unemployment rate up to 10%, we can put inflation worries behind us in a year or less," says Richard Wahlquist. Wahlquist also states that the United States is one of the few countries in the world that can withstand inflationary pressures.