There are better ways to combat inflation than destroying demand with interest-rate increases, according to  Nela Richardson, chief economist for payroll giant Automatic Data Processing Inc. She joined the latest What Goes Up podcast to give her take on half-century record American employment, decades-high inflation and signs of softness in the US housing market. 

“It’s about productivity,” Richardson says. “Productivity grows you out of inflation when more workers produce more output for the same amount of cost. That’s what productivity is. That’s what gets you out of the inflation wage-price spiral conundrum.” But to do that, she says, business and government need to invest in jobs and workers—something they haven’t been good at recently. “It takes more partnerships with community colleges to build an agile and skilled workforce in the places that the economy needs it,” Richardson says.

There are better ways to combat inflation than destroying demand with interest-rate increases, according to <a href="bbg://people/profile/17228419" data-web-url="" data-cke-saved-href="bbg://people/profile/17228419"> Nela Richardson</a>, chief economist for payroll giant Automatic Data Processing Inc. She joined the latest What Goes Up podcast to give her take on half-century record American employment, decades-high inflation and signs of softness in the US housing market.  “It’s about productivity,” Richardson says. “Productivity grows you out of inflation when more workers produce more output for the same amount of cost. That’s what productivity is. That’s what gets you out of the inflation wage-price spiral conundrum.” But to do that, she says, business and government need to invest in jobs and workers—something they haven’t been good at recently. “It takes more partnerships with community colleges to build an agile and skilled workforce in the places that the economy needs it,” Richardson says.

Hosts Mike Regan and Vildana Hajric are joined each week by expert guests to discuss the main themes influencing global markets. They explore everything from stocks to bonds to currencies and commodities, and how each asset class affects trading in the others. Whether you’re a financial professional or just a curious retirement saver, What Goes Up keeps you apprised of the latest buzz on Wall Street and what the wildest movements in markets will mean for your investments.

Hosts Mike Regan and Vildana Hajric are joined each week by expert guests to discuss the main themes influencing global markets.

What Goes Up

The Worst Way to Fix Inflation

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c57c29cf-53ac-444c-a581-af3b0124343c/transcript

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