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What Does the Labor Market Mean for Inflation?
There are so many different possibilities that i don't think i would stand by any specific answer i give, you know, in the face of fire. And when you look across very, very knowledgeable macro economists on these topics, there's a very wide divergence of opinions, because we don't know. Having said that, i would say there are aspects that look similar to the late sixties, early seventies. We've had a series of unfortunate supply shocks, one after the other, which for us, has been coved.