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Unusual Whales Pod Ep 16: Macro Outlook for 2023, the Federal Reserve in 2023, and the January 6.5% CPI Print

Unusual Whales

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The Fed Might Be More Cautious About Higher Wages

I totally agree with Jim's point that populism is inflationary and I'll just add a little bit more to the structure we'll talk about higher wage inflation. If wages got too high in the US you could have sourced labor from abroad by moving production abroad but if there's less globalization that's less likely. One of the big stories of our generation is that or working age population is shrinking so in the 80s people had smaller families.

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