MacroVoices #354 Jim Bianco: CPI, FOMC, China & More
Macro Voices
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Post Pandemic Inflation, Is It Coming Out of the System?
I do think that structurally in the post pandemic era, we're going to probably settle out at a higher level than we did before. The old level was two. I think the higher level is going to be closer to four. We still got sub 4% inflation. We've still got labor hoarding by companies. It's hard to find workers. There's 10 million open jobs in the United States. That's a 1.7 times open jobs to unemployed. So end of cheap labor, end of cheap goods. And will we run 2008, if not worse? If that's where they're going to stay. They're going to come back down.
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