Robert Kaplan, president of the Dallas Federal Reserve, says inflation is likely to stay low. The chief of the Dallas Federal Reserve on Tuesday said inflation is likely to remain low because of vast changes in the economy wrought by new technologies that have severed the historical link between wages and prices.
It used to be that wages rose in a good economy and businesses passed rising labor costs onto consumers through higher prices.
“That was true historically. Not today,” Dallas Fed President Robert Kaplan said at an event in Washington, D.C. “Wages and prices are different processes.”Kaplan said businesses have […]
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