3min chapter

The Compound and Friends cover image

Somebody's gonna be wrong

The Compound and Friends

CHAPTER

The Slowing Average Hourly Earnings

Headline PPI from March fell half a percent, the estimate was for no change. The year over year core gain is still 3.4%. But again, that's versus almost 5% the prior month. So it's meaningfully falling now. And earnings were the thing, right? Like earnings are a huge driver of this now.

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