Economist Brad DeLong was feeling optimistic in February 2021, because inflation was well below target. Weeks later, Russian President Vladimir Putin launched the invasion of Ukraine, sending price shocks through the global economy.

 

The latest numbers indicate inflation is slowing, but people around the world are still feeling the sting. While the US has it better than most, no one is immune from the global economic slump.

 

So what does inflation mean for our pocketbooks, and for our mental health? Ray Suarez speaks with DeLong about why a little bit of inflation may be good for the economy, but also signals to service-sector and middle class workers that the system isn’t working for them. 

 

Guest:

 

Bradford DeLong, UC Berkeley economist and author of Slouching Towards Utopia: An Economic History of the Twentieth Century

 

Host:

 

Ray Suarez

 

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