RBA May Cut Rates in August and November, AMP Capital's Oliver Says

The transcript discusses the potential for wage growth in Australia, comparing its labor market capacity to that of the US. It highlights the challenges of underemployment and the slow pace of economic growth. The conversation shifts to short-term economic risks, including potential downward pressure on wages and upward pressure on unemployment. The Reserve Bank's stance on rate cuts is explored, with expectations of two rate cuts later in the year, contingent on economic indicators and political outcomes.

Discuss the relationship between wage growth and household consumption as mentioned in the text.

What does the speaker suggest about the future of rate cuts in Australia?