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William Dunkelberg: Sticky Wages Are Not Transitory
When U.S. Treasury Secretary Yellen said that the inflation was transitory, she was partially right, but misdiagnosed the way cost pressures are transmitted and mitigated. Yes, shortages created by Covid dislocations of transportation and production occurred, but these were resolved by the private sector, finding ways to get the goods produced
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Posted: April 18, 2024 Thursday 03:24 PM