A very well known strategist who has not admitted himself to the inflation camp until most recently, likes to argue that US wage growth is weak, therefore inflation will "eventually slow."
The problem with that argument is that it ignores the wage spiral that we are seeing everywhere other than in the USA.
It is indeed "global this time" and this chart states the inflation case quite explicitly.
KM
The problem with that argument is that it ignores the wage spiral that we are seeing everywhere other than in the USA.
It is indeed "global this time" and this chart states the inflation case quite explicitly.
KM
