Rieder Says Jobs Report Won't Change Fed's Plans

The transcript discusses recent market reactions, focusing on interest rates and the Fed's trajectory. It highlights the shift in the economy towards service-oriented jobs, which impacts wage growth and employment trends. The discussion also covers the changing nature of hiring practices, emphasizing the role of technology and the shift from full-time to consultant-based hiring. The traditional Phillips curve is questioned in light of these changes, suggesting a new framework for understanding wage growth.

In what ways has the hiring process changed over the last decade?

What does the speaker imply about the relationship between unemployment rates and wage growth?