Feature interview: KPMG Chief Economist Diane Swonk
First Move with Julia Chatterley
00:00
The Slowdown in Wage Growth for Low Wage Workers
The Fed's baseline is to stall out growth in 2023 and raise the unemployment rate by more than a percent from where it's at today. I think unfortunately we're going to see more unemployment before we see the Fed stop basically turn around and cut rates. The slowdown in wage growth for low wage workers is where it's occurring. Those are the workers that were burned the most by inflation overall.
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