Latest / Stagflation Conversations with Fexingo: High Inflation, Slow Growth, and 1970s Echoes
Why Wage Growth Hasn't Turned Into a Wage-Price Spiral
In this episode of Stagflation Conversations, Lucas and Luna dig into a puzzle that's been nagging economists through the slow-growth summer of 2026: wages keep creeping up — average hourly earnings hit $37.60 in July — yet inflation isn't spiraling the way it did in the 1970s. They walk through the gap between nominal wage growth and real purchasing power, the role of sticky expectations, and why the Fed isn't panicking about a 4.1 percent unemployment rate. With CPI still slightly above target and the ten-year breakeven at 2.27, they ask whether the current calm is durable or…
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