LONDON (Reuters) - Bank of England Monetary Policy Committee member David Blanchflower warned on Wednesday that the major pain of rising unemployment has yet to be felt in the economy and said those calling for more stimulus were right.
Blanchflower said that while inflation was not a big concern right now, a major worry was that global demand and global trade were contracting sharply, pushing unemployment up.
"Those leaders pushing for a substantial fiscal stimulus are right," he wrote in a commentary in the Daily Telegraph.
