Summers Says It's 'Preposterous' to Call U.S. Labor Market Slack

Former U.S. Treasury Secretary Lawrence Summers says it's "preposterous" to argue there are labor shortages in the U.S., noting that the unemployment rate of 4.8% is below historic norms. "The view that there's a lot of labor market slack is looking preposterous right now," Summers said on Bloomberg Television's "Wall Street Week." (Source: Bloomberg)

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