Bank of England's chief economist has been blasted as out of touch with reality following public comments he made saying British workers need to "accept" they are poorer because of inflation.
Speaking on Columbia Law School's "Beyond Unprecedented" podcast, Huw Pill said high inflation was because of "pass the parcel" behavior between businesses upping their costs, and employees asking for raises, along with supply-side pressures like the war in Ukraine and gas price hikes.
