Yellen Says We're Not Seeing a Wage-Price Spiral

The video discusses unusual economic disruptions caused by extreme demand-supply imbalances, particularly in the automotive sector due to semiconductor shortages. It highlights the tech sector's unexpected challenges as demand normalizes. The impact of energy and food prices on inflation is examined, noting that while these factors temporarily boost inflation, they do not trigger a wage price spiral. The underlying economic dynamics remain stable, despite these shocks, and are not reminiscent of the 1970s and 1980s.

What historical context is provided regarding energy and food prices?

What is the current state of wage-price expectations according to the text?