Surveillance: Bigger Picture with Calvasina
Bloomberg Surveillance
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Wage Inflation in the US Is Running Above 4% on an Annualized Basis
Wage inflation in the US is running above 4% on an annualized basis. That's too high to be consistent with getting inflation down into the mid-2s. A rate's restrictive enough right now where they are to induce some sort of recession. I don't think the Fed's gonna wait around though. They tighten again in July and possibly more later this year. By the time they're done, rates will be high enough with a lag to create a recession,. probably sometime in 24.
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