Wages are up and inflation is controlled now

(Chad Stone, , PhD in Economics from Yale Chief Economist at the Center on Budget and Policy Priorities“Amid Signs of Economic Improvement, an Overly Aggressive Fed Could Trigger a Recession,” Center on Budget and Policy Priorities, 02-24-2023, )

Namely, inflation and wage growth came down significantly in the second half of the year, and job growth, while still strong, cooled over that period as well. Inflation expectations — what the public and financial markets believe will happen to inflation over the next couple of years — indicate that people (and financial markets) believe inflation will continue to fall, which is key to reducing upward pressure on nominal wages that could trigger more inflation.[1]