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Matthew Yglesias @mattyglesias

The “good news” about restrained nominal ECI growth is a reminder that there are really two different things going on that are both called inflation: — All nominal aggregates growing faster than trend — Prices growing faster than incomes — PolitiTweet.org

Employment cost index up 1.2% in Q3, +5.0% year-on-year. Consistent with the story of nominal wage growth that is h… https://t.co/jDtzQ2BBVY

Posted Oct. 28, 2022 Deleted after a minute Hibernated

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Matthew Yglesias @mattyglesias

I mean in some sense “we all know” what he was afraid of, but it’s a moment in American media history that invites more reflection and scrutiny as to what exactly was happening and why. — PolitiTweet.org

Posted Oct. 28, 2022 Deleted after 15 days Hibernated

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Matthew Yglesias @mattyglesias

You could have a situation where inflation was running at 7% but nominal wage growth was running at 8% — that would be “too much” inflation relative to the Fed’s target but I’m not sure people would be so upset. — PolitiTweet.org

Posted Oct. 28, 2022 Deleted after 40 seconds Hibernated