US Far Away From Recession, Pimco's Wilding Says

The video discusses recent economic data, highlighting a shift from recessionary concerns to stronger momentum. It explores the implications of elevated inflation, questioning if a strong consumer and job market can withstand it. The video also delves into the origins and significance of the 2% inflation target set by central banks, noting that while the Fed maintains this target, they might tolerate slightly higher rates. Recent data suggests inflation may be more persistent, potentially requiring further action.

What historical context does the speaker provide for the 2% inflation target?

What concerns does the speaker express regarding inflation data?