Nobel economist warns of US policy instability #CGTN

Nobel economist warns of US policy instability
Applying his “rational expectations” framework, Nobel laureate in economic sciences Thomas Sargent has criticized the instability and lack of credibility in current US economic policy. In an interview with CGTN, he warned that frequent policy changes undermine public and business confidence, raising the risk of stagflation and debt default. In contrast, China’s central bank adheres to a stable and predictable rule-based system. Sargent also highlighted a sharp contrast in education, noting that poor math literacy in the US reflects deeper weaknesses in science and engineering training.

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