re: US Deputy Sec of Treasury on CNBC talking about actively cutting jobs to combat inflation

Actually rising unemployment does reduce inflation. It is part of the equation when inflation increases. You have less employment, less people buying things, lowers inflation.
But the increase in unemployment is the result of a slowing economy, slowing business, and in turn inflation comes down. It all goes hand in hand.
The unemployment rate follows the economy, and slowing economy reduces inflation.

Don’t forget the openings for all the gas station iced coffee baristas out there

I mean rising unemployment absolutely reduces inflation because demand is lowered. This is actually pretty basic economics, look at unemployment as Volcker squashed inflation in 80s, unemployment moved meaningfully higher.

Basically, killing growth and demand is the only tool the fed has to fight inflation. They can't expand supply, they can only constrict or tighten demand. Most companies are getting ahead of this as fed tightens, and are adjusting workforce as they should be doing; if you are paying attention to 3Q earnings.

Is this going to end well? No but this is the only play they have because they waited WAY too long to start pulling in the reins and let things go too easy for too long. Yellen is just finally speaking a little truth out in the open; which is almost a breath of fresh air even though I don't like the woman.

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there would need to be a MASSIVE surge of unemployment over an extended period to reduce the amount of liquid cash available to have that kind of effect

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Yep.

It's coming.

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Unemployment checks should only run for 3 months. They can get work making breakfast hotdogs for Mexican working men.

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I've long said that unemployment checks should require volunteer hours.

-Mandatory training on job search, skills, etiquette
-Mandatory service i.e. washing municipal vehicles, cleaning bathrooms, cleaning up parks, picking up litter, pressure washing parking decks, vacuuming municipal buildings, etc.
-Zero skill folks required to take agricultural jobs pulling weeds and picking up pecans by hand, etc
-Mandatory drug tests

Make it hard. Make it miserable. Make it meaningful.

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..... how exactly would increasing unemployment curb inflation?

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By decreasing demand. Economic downturns increase unemployment, decrease personal expenditure, and decrease demand. Hell of a way to "fix" supply chain driven inflation, isn't it?