A soft landing is possible.
The Roosevelt Rundown features our top stories of the week.
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** Labor Market Strength Is No Justification for a Recession
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This week’s Consumer Price Index (CPI) release offers the latest evidence that inflation is declining.
For the Federal Reserve, it should also strengthen the case for patience ([link removed]) in its approach to inflation.
“Whether the labor market converges to one that is still strong and works for everyday people . . . is in the hands of the Fed,” Roosevelt’s Justin Bloesch and Mike Konczal argue in a new blog post.
“With measures of labor demand cooling and key sectors catching up in supply, the Fed has a choice: They can allow for a wait-and-see period that lets a soft landing materialize, or they can insist that unemployment must go up to crush inflation, introducing the risk of a serious recession.”
Read on for four reasons to be optimistic about a soft landing ([link removed]) .
** The Noncompete Ban, and What’s Next
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The Federal Trade Commission’s proposal last week to ban noncompete agreements is a major win for American workers and innovation ([link removed]) .
And it could be a pivotal step toward a whole-of-government approach to worker power ([link removed]) .
“To meaningfully build worker voice and curb corporate concentration, the Biden administration cannot stop here,” Roosevelt’s Trisha Maharaj writes.
“It must call upon the full force of government to respond to the ongoing decline in worker power in the labor market.”
Read more in “Banning Noncompetes: A Groundbreaking Step for Worker Power, and What Must Come Next.” ([link removed])
** What We’re Reading
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How Progressives Found Their Way to Real Power in Biden’s Washington [feat. Roosevelt’s Felicia Wong] ([link removed]) - Washington Post
The Impending Debt Ceiling Collision of 2023—and How Biden Can Avoid It—Explained [feat. Roosevelt’s Mike Konczal] ([link removed]) - Vox
20 Essential Black History Books That Belong on Everyone’s TBR List [feat. Roosevelt fellow Mehrsa Baradaran] ([link removed]) - Cosmopolitan
The New Political Economy ([link removed]) - Washington Monthly
As Infrastructure Money Lands, the Job ([link removed]) Dividends Begin ([link removed]) - New York Times
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