Fed's Paulson says useful to consider different scenarios around Iran war; impact of Iran war comes as inflation has been high; there's more risk of faster shift from oil prices into inflation expectations
Importance
Level 1
- Risk that series of supply shocks drive up inflation.
- Economy is not creating a lot of jobs right now.
- Bending but not breaking is still how to view job market.
- To me, it feels like the job market is fragile.
- Job market does not feel robust.
- Very valuable that long-run inflation expectations are anchored.
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