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Skanda Amarnath & Michael Gayed: Unraveling the Fiscal Policy-Inflation-Asset Prices Nexus

Lead-Lag Live

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The Fed's View on Wages and Non-Housing Services

Wage growth in certain pockets of the economy is hot, but if we're trying to think about core services ex housing, that's a more disinflationary dynamic. The Fed has mostly said wage growth is just too high and so their characterizations have been geared towards where their data might change after Age Fridays. But I'd say the Fed hasn't really shown up till now with what's going on in the wage data.

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