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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessPowell Sees Little Risk of Wage Price Spiral
Last Q: What can workers expect wage-wise going forward?
- A: Wages have moved up, driven by new hires, much driven by low paid jobs in the service industries as people come back. We don't see wage inflation that can lead to price inflation. We're not seeing that right now - moving up in a way that is hard for companies to manage, and puts them in a situation where they have to accept substantially lower margins or raise prices.
- When it happens gradually, sometimes unit labor costs do move on and put some pressure on margins. The problem is if it happens in a way that pushes firms broadly into raising prices. It was called the wage price spiral - but we don't see that now. This was something that was a feature of the high inflation era of the great inflation.
- It's not a feature now and we don't see that now. Of course we'll be watching it. We'd like to see matching so people get back to work. Wages moving up across the spectrum consistent with inflation and productivity is a good thing.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.