Milken's William Lee Says Phillips Curve Is Busted

The video discusses the importance of understanding both soft and hard data in economic analysis, particularly in relation to labor market trends and inflation. It highlights the discrepancy between job openings and actual hiring, emphasizing the need for specialized skills. The discussion also covers the Federal Reserve's gradual approach to inflation and critiques the reliance on certain economic indicators.

What does the speaker imply about wage growth in the current economic climate?

According to the speaker, what is a better indicator of the labor market than the unemployment rate?