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18th Nov 2022 15:34U.S., Weekly Monitor

  • Pushbacks to our optimistic inflation view focus on hot nominal demand and rapid wage gains…
  • …But they ignore the virtuous circle from margin compression to expectations to wages.
  • No one seems to think productivity growth will come 
    to the rescue; but it did in the late 90s.

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Keywords for: 21 Nov 2022 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence