The Menace Of Stagflation

2026-03-06 23:30:00 ET

Exactly one week ago, the Bureau of Labor Statistics published its January report for wholesale prices, showing a 3.6 percent year-on-year rise in the Producer Price Index, much larger than economists had expected. Today, the same Bureau of Labor Statistics issued its monthly jobs report, noting, rather coyly, that nonfarm payrolls had “edged down” by 92,000 in February....

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