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But we saved everything 🙂.
When money supply growth was between 4% and 8% and cyclical payroll growth was between 0% and 2%—matching current conditions—a 0.5% increase in core inflation was twice as common as a 0.5% decrease over the following 12 months. Eric Basmajian posted this statistical comparison.
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Basmajian has previously observed that job seekers may face a weak labor market even when layoffs remain elevated above recession levels, according to his analysis of employment conditions. In earlier commentary, he urged policymakers to focus on major spending categories to address U.S. fiscal issues, noting that waste and fraud are minor contributors to overall expenditures in his remarks on fiscal challenges.