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Japanese raisingCNBC
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68% Informative
Peter Orszag : I think the US markets overreacted to what was not a terrible jobs report.
He says the consumer has largely held up, although there are some signs of especially for lower and moderate income families, some additional stress, but generally pretty decent as is the labor market.
The only thing that's going to happen is, if anything, the antitrust and regulatory environment will get better, not worse under either, under either.
Almost all of the inflation on the way up and inflation on way down has been driven by the supply side and not the demand side, maybe 80% or so.
How do you get nominal GDP to grow 10% by by, by supply shortages? And then how does NGDP grow 17% ? The Fed tightening I think has had very little to do with the disinflation we've seen.
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