The San Francisco Fed says wage inflation is not important for consumer price inflation. That rips up page one in the economic textbook, which says that when you have higher cost of production through higher labor costs, then you should also see higher prices. The issue with that paper and the issue with that approach is that that's a statistical correlation where the author basically finds that the correlation between wage inflation and consumer price inflation isBasically very low, only 0.1%.
Torsten Slok, Chief Economist at Apollo Global Management, shares his thoughts on the US economy and the threat of a recession. Lisa Osborne Ross, US CEO at Edelman, provides the details of the communication firm's Trust Barometer report on Business & Racial Justice. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Aerospace Reporter Julie Johnsson talk about Julie's Businessweek Magazine story Boeing’s China Struggles Ease as Plane Shortage Stokes Demand. And we Drive to the Close with Aaron Kennon, CEO at Clear Harbor Asset Management.
Hosts: Matt Miller and Katie Greifeld. Producer: Paul Brennan.
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