Stifel Financial's Piegza on US Economy, Jobs

The video discusses the challenges of wages not keeping up with inflation, highlighting 18 months of wage declines. It explores the Fed's monetary policy, focusing on job and demand destruction to stabilize prices. The impact on the corporate sector is examined, noting hiring freezes and layoffs as signs of policy effectiveness. The housing market is analyzed, showing cooling trends but structural support due to supply-demand imbalances. Overall, the Fed's actions aim to manage inflation and economic stability.

What has been the trend in real wages when inflation is considered?

• Real wages have been decreasing.

• Real wages have been increasing.

• Real wages have been fluctuating.

• Real wages have been stable.

What is the Federal Reserve's stance on job and demand destruction?

• They are indifferent to it.

• They are satisfied with the current level.

• They believe more is needed.

• They believe it is sufficient.

How does the Federal Reserve view reports of hiring freezes and layoffs in the corporate sector?

• As unrelated to their policy.

• As a temporary issue.

• As an indication that their policy is working.

• As a negative outcome of their policy.

What is the current trend in housing sale activity?

• It is increasing rapidly.

• It is still positive but slowing down.

• It is stable.

• It is declining rapidly.

What structural factors support the US housing market despite rising interest rates?

• High levels of immigration and first-time buyers.

• Decreasing population growth.

• A surplus of housing supply.

• Stable interest rates.