U.S. Inflation: The Services vs. Goods Distinction

The transcript discusses inflation, focusing on the Cleveland CPI and its stability. It examines the impact of the service sector on goods, highlighting a decline in goods consumption. The conversation shifts to real vs nominal GDP analysis, emphasizing the need to understand both. Central banks' roles in managing inflation are critiqued, with skepticism about their effectiveness. The discussion concludes with an analysis of quantitative easing's impact on risk pricing and economic forecasts.

What are the challenges mentioned regarding productivity growth in the U.S. and the UK?

What are the implications of wage growth in relation to inflation as mentioned in the conversation?

How do the participants view the role of quantitative easing in the current economic situation?