The Fed's Huge Monetary Overhang Keeps Job Totals Up as Real Wages Fall
The current job market strength partly reflects the ongoing monetary overhang from years of breakneck growth in money-supply inflation. The $6 trillion in money that was newly created since 2020 is still very much a factor.
Original Article: “The Fed’s Huge Monetary Overhang Keeps Job Totals Up as Real Wages Fall”
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