we are pretty close to where we were before the nightmare happened. it will continue to add jobs. inflation will come down. there is enough stuff in the pipeline. other things like rent on new apartments are way up but the overall rent index does not reflex that because a lot of people are under under leases meaning inflation will continue for a while. but look. the fed, has releaseds it own projections. it expects inflation to come down but still be somewhat high over the course of next year and expects unemployment to continue to fall. i can t make much of an argument with that. i think where we are is a situation where we will still have things to complain about. but it will actually look a lot better a year from now than it does now. will it be possible for inflation to decline more
inflation. the fact is that a lot of it is independent of anything that any president could have done. a lot of it has been oil crisis, but that came down a lot in the last few weeks. that will help. but the idea that this is a biden inflation does not stand up if you try to talk about it. and you can see republicans are condemning it. how would you bring inflation down. i know economics is not supposed to be a predictive discipline but you are called upon to do so all of the time. as you look forward in to 2022, what would you expect to see happening in the economy? i think that the economy will continue to grow to add jobs. not as fast as it has because we have gained so many already.
independent of anything that any president could have done. a lot of it has been oil prices although those have come down a lot in the last few weeks, and that will help. but, no, this is the idea that this is a biden inflation just doesn t stand up if you try to talk about it. and if you ask you know, republicans are condemning it, but if you ask, so what would you do? how would you bring inflation down? how would things be better if donald trump were still in office? they have absolutely no answer. i know economics is not supposed to be a predictive discipline, but you are called upon to do so all the time. as you look forward into 2022, what would you expect, given what we know now, to see happening in the economy? i think that the economy will continue to grow, to add jobs, not probably as fast as it has because we ve gained so many
already. particularly among prime-aged adults, we re pretty close to where we were before all of this nightmare happened. but we ll continue to add jobs. inflation will come down. it will probably still be high. there s enough stuff in the pipeline. you know, things like rents on new apartments are way up, but the overall rent index doesn t reflect that because a lot of people are still on their old leases. that sort of thing will mean that inflation continues for a while. but i look, the fed released its own projections. it expects inflation to come down but still be somewhat high over the course of next year. it expects unemployment to continue to fall. i m kind of i can t make much of an argument with that. i think where we are is a situation where we will still have things to complain about, but it will actually look a lot better a year from now than it does now. will it be possible for inflation to decline more rapidly in the united states
season and there have been worries about the new strain. part of the european union had headline, the variant concern that data is of the sixth of december says all cases for which there is available information on severity were either asymptomatic or mild, no deaths have been reported among these cases so far. that s where we are right now. listen, the president had another loss today on his mandate being blocked at the federal level. which regarded federal contractors for it a quick comment from both of you on wha the ministration should do heading forward with covid and into the winter season. i mean, this administration needs to let the american peopl get back to work, not try to enforce these kinds of mandates when we are struggling to add jobs to an economy that is thirsty for employees. it doesn t make sense to try to sector out people who for whatever reason it s a choice with their doctor as a religiou exemption, whatever it is, for those who do not get a vaccine