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Bloomberg Wall Street Week - August 4th, 2023
Wall Street Week
The Fed's View on Wages
Wages were 4.4% year over year, I believe it was. That doesn't sound like something consistent with getting a 2% inflation overall. If you have strong productivity growth, you can have wage growth and it doesn't generate inflation. Wages are not a leading indicator of price inflation. They're backward looking. They move more slowly.
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