CWRU economics professor says housing costs doing the most damage during this inflationary period
WOIO: Jonathan Ernest, assistant professor of economics at Weatherhead School of Management, commented on the economic strains consumers are feeling from rising prices across the board. Ernest suggested supply and demand is driving inflation as consumers are spending, post-pandemic, and even as prices have surged. “It’s also potentially overheating the economy to where we’re demanding more goods than we’ve been able to produce, in the long run, because we haven’t had it set in that we don’t really want to pay these super high prices,” he said.