Former IMF Chief Economist Says US Is in ‘Productivity Recession,’ Inflation Is ‘Terrible’

Former IMF chief economist Kenneth Rogoff has said that the United States is in a “productivity recession” and that inflation is “terrible,” while taking aim at the Federal Reserve’s strategy to bring down the soaring cost of living.
Rogoff, who is a professor of economics and public policy at Harvard University, spoke to Fox New’s “Mornings with Maria” on Sept. 15, where he added that U.S wages are significantly worse than they appear.
“We’re in a productivity recession. Productivity is just awful,” Rogoff said, citing points such as the country’s emergence from the COVID-19 pandemic and an increase in people working from home where they are “producing less,” which in turn makes “effective wages higher than they seem,” as reasons for such a recession….