Minerd: Markets Are Too Optimistic About Fed Tapering, Rates

The video discusses the market's overly optimistic expectations regarding rate normalization and tapering. It highlights the transitory nature of prices and the impact of returning service workers on wage pressure. The analysis suggests that these factors may cause the Federal Reserve to pause rate hikes, as wages are not accelerating as expected.

What does the speaker think about the average person's expectations for tapering by the fourth quarter?

What is the significance of understanding wage data at a sector level?