Pantheon Macroeconomics

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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.

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Keywords for: Job Gains Strong but Likely will Slow

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