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Topics discussed in this podcast include: running money at Bridgewater, global macro investing, labor market analysis, why hedge funds are typically bearish, the impact of inflation on productivity and investment, the relationship between wages and productivity, analyzing labor market data, driving experiences on Midwest highways, the connection between consumer spending and income growth, demographic factors affecting bond yields, fees and costs in accessing alternative investment funds, the benefits of a systematic approach, and podcast and basketball recommendations.
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Quick takeaways
- Wage growth outpacing productivity leads to elevated inflation, causing volatility in investments.
- NFIB data highlights the positive outcomes for small businesses and their contribution to the US economy.
Deep dives
Persistent wage growth and its impact on inflation
Wage growth continues to outpace productivity growth, resulting in elevated inflation. The Fed targets 2% inflation, so anything above that could lead to volatility and uncertainty in the investment landscape. Wage growth data shows a 5-6% increase among those with a high propensity to spend, which is too high for inflation to durably fall to target levels.
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AI-powered
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Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode