Jobs Report Shows No Fed Impact: BlackRock's Rosenberg

The transcript discusses the impact of employment trends on wage inflation, highlighting a shortage in certain sectors and the compositional effects on inflation. It examines long-term wage inflation trends, noting a persistent rate above 5%. The discussion also covers market expectations for interest rate cuts and the disconnect with current inflation data, emphasizing the challenges posed by long and variable lags in economic policy effects.

What factors are contributing to the high rise in wage inflation according to the discussion?

How does the current wage inflation rate compare to the 12-month run rate mentioned?

What is the market's expectation regarding interest rates in the second half of 2023?

What challenges are mentioned regarding the impact of inflation data?

What is identified as the most important driver of inflation in the discussion?