Fmr. Obama Econ. Adviser Furman: ‘A Lot of’ Prices ‘Are Going to Continue to Get Worse’

On Wednesday’s broadcast of MSNBC’s “Chris Jansing Reports,” Professor of the Practice of Economic Policy at Harvard University and the Harvard Kennedy School Jason Furman, who served as Chairman of the Council of Economic Advisers under President Barack Obama and on the Council of Economic Advisers and the National Economic Council under President Bill Clinton, said that while the prices of some things will improve and pointed to recent declines in gas prices and airfares, “a lot of other things are going to continue to get worse.” And it’s questionable whether we can get inflation to where we want without having a recession.

Furman stated, “Some parts of this are going to get better. Gasoline prices are down in the last month. That’s not shown in today’s report. This report did show that airfares were down for the month of June. But a lot of other things are going to continue to get worse. The question is, can the economy achieve a soft landing? Can we get to where we want to go without a recession? I think the answer to that could be yes. But that’s the more important one than what’s going to happen over the next few months.”

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