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There's No Magic to Fed's 2% Inflation Target

What Goes Up

CHAPTER

The Future of the Economy

I think technology, first of all, we're about to go through the most extraordinary productivity growth. We really don't know how many job functions are going to be eliminated through AI. I'm not convinced that wages is that sincere to service inflation. Nobody in this generation has ever seen inflation stay as high for as long as it has continued to surprise to the upside. This year has been more than any one I've seen driven by technicals in an incredible way and violent ways at times.

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