Surveillance: Powell Crushes Pivot Hopes, BOE Hikes
Bloomberg Surveillance
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Do You Think the Labor Market Is an Accurate Reflection of Some of the Pain That's Being Fell to the Market?
The labor market is an important step in the process of bringing down inflation. The productivity numbers, I think, are also being weighed down by what I do think is an understatement of GDP in the first half of this year. So it doesn't make sense that employers were adding 500,000 jobs per month while the economy was contracting. Much of the inflation we have isn't directly tied to wage inflation.
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