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Record Inflation and What’s Next (with Larry Summers)

In the Bubble with Andy Slavitt

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Increasing the Purchasing Power of Wages

When wage inflation, growth in wages, gets above about four %, the purchasing power of wages tends to be going down rather than going up. And so general rule, inflation doesn't tend to be great for the Purchasing Power of working people. That's why, in service of higher purchasing power, i think it's important that we work to contain in flesh. The lasten example is that if one person stands up at a ball game, they see better. If everyone stands up with a ball game,. nobody sees much better, and everybody's less comfortable.

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