Grant Thornton's Swonk Sees Acceleration in Wages

The transcript discusses Janet Yellen's significant speech at the Economic Club of New York, focusing on labor market slack and its impact on inflation. It highlights the challenges in understanding inflation dynamics in a nearly fully employed economy. The discussion also covers historical economic changes, such as the 1990s boom, and the current lack of wage pressures and productivity growth. Yellen's career achievements, including her adaptability and non-ideological approach, are praised, while her relationship with Congress is noted as an area for improvement.

What factors contributed to the lack of wage pressures in the current economic climate as mentioned in the speech?

Discuss the significance of Yellen being the first female central banker in the U.S.