Pantheon Macroeconomics
Best viewed on a device with a bigger screen...
8th Jul 2022 15:14U.S., Daily Monitor, Weekly Monitor
Payroll growth has stabilized at about 350K, but smaller gains are coming later in the summer/fall.
Wage gains have slowed far enough to exert material downward pressure on core-core inflation.
The Fed does not need to hike by 75bp this month; the risk of a wage-price spiral is small.
cpi, employment, employment report, fed, government, ism, ism employment, job growth, July, June, labor, manufacturing, payroll, payroll growth, payrolls, policymakers, private payrolls, rate hike, stock market, u.s., unemployment, wage growth, wages, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence