Fmr. Obama Treasury Counselor Rattner: Labor Force Decline 'Means More Inflation'

On Monday's broadcast of MSNBC's "Morning Joe," Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, said that the decline in labor force participation in the September jobs report is "bad news because it means Americans are still not coming back into the labor force to the extent we wanted them to and expected them to as the economy recovered." And lower labor force participation "means more pressure on wages, means more inflation."