Summers, Blanchard Say Waller's 'Soft-Landing' Paper Has Errors.

"We find it entirely unconvincing as support for the "soft landing" idea -- pushed mostly recently by Fed Chair Jerome Powell in his July press conference -- that vacancies can decline substantially taking pressure off inflation without driving unemployment way up", they said. (Bloomberg) -- Economists Olivier Blanchard and Lawrence Summers said a paper by Federal Reserve Governor Christopher Waller that found a soft landing is a plausible outcome for the labor market "contains misleading conclusions, errors, and factual mistakes." Summers, Blanchard Say Waller's "Soft-Landing" Paper Has Errors. [Extracted from the article]