Morning Must-Read: Pedro Nicolaci da Costa: On Larry Ball and Sub-5% Unemployment

…That could help bring some discouraged workers to reenter the labor market, as well as help the long-term unemployed find work and involuntary part-time workers find full-time jobs, he said…. Mr. Ball… argues that the Fed would have a much easier time raising interest rates to fight modest inflation than it would battling persistently low inflation or deflation with rates already close to zero…