Taming inflation could drive unemployment up to 6%, Wall Street bank says
CBSN
Taming inflation could lead to much higher U.S. unemployment than what the Federal Reserve is expecting, Deutsche Bank analysts said on Monday.
The Fed's battle against inflation is already proving painful for many Americans, who are grappling with a jump in borrowing costs due to the Federal Reserve's ongoing rate hikes as well as the fiercest inflation in 40 years. But getting prices under control will require "a lot higher unemployment rate" than the Fed's forecast of 4.4% next year, Deutsche Bank said in a note to clients.
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