Larry Summers Blows It on TV
Courtesy of Bruce Krasting
The Labor Force Participation Rate (LFPR) is a key economic statistic today. Changes in the LFPR are shaping the direction of the capital markets, federal economic policy, monetary policy and, most importantly, politics.
The LFPR hit a new record low on Friday. The key question that must be answered is:
Is the current LFPR a temporary phenomenon, or is this the “New Normal?”
If the current LFPR is, in fact, the new normal
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