Fed official says the U.S. has the ‘luxury’ to play the waiting game with inflation thanks to the strong labor market

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1. I’m really trying to figure out what’s up, because unemployment is supposedly relatively low, but everywhere I look I’m hearing about layoffs and people being unemployed for months at a time.

   I don’t know how long a normal term of unemployment is, but 3 months or more seems to be the regular number I’m hearing, and that seems like a long time to go without work.