The U.S. Labor Market Throws Another Curveball with Peter Boockvar
Real Vision: Finance & Investing
00:00
The Fed's Ability to Cut Rates Has More Strings Attached
In the 20 years leading into COVID, core goods prices averaged zero and services inflation X energy averaged 2.8%. Justin Time: Can we go back to 2.8% services inflation? I'm not sure because wage growth is now 4% to 5%, which is double the 20-year pace leading into CO VID. "I just don't think that free lunch exists anymore," he says.
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