Even Joe Biden’s hate speech in direction of Republicans can’t masks the horrid inflation on his watch. As if Biden watches something aside from ice cream cones.
On a YoY foundation, US Productiveness is down for the third straight quarter (and 4th quarter of the final 5).
On the mirror picture of productiveness, unit labor prices rose 3.5% QoQ (a notable slowing from the 8.9% QoQ development in Q2). This was the sixth quarter in a row of rising unit labor prices (however was lower than the +4.0% QoQ anticipated)…
Nonetheless, on a YoY foundation, that’s the quickest development since Q3 1982.
Yikes! The 2s10s Yield Curve Inversion Is the worst because the Eighties.