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The "Money Illusion" Keeps the Economy Hot | Juliette Declercq
Forward Guidance
The Paradigm Shift in Real Income
Julian Zelizer: Wages are going up, but inflation is rising higher than wages. So it's actually destroying demand. Real income is going down. As long as we're not starting to deploy on that, I don't see any reason why we're not going to skip spiraling higher in terms of no more nominal illusion," he says.
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