Amara Omeokwe
speaker
439 appearances
11 recordings
1 series
first heard Mar 2020
last heard Dec 2023
Amara Omeokwe’s voice in public audio — every appearance, attributed to the second.
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Appearances
And we saw that feed into the prices of used cars and trucks.
But now that some of those supply chain disruptions have improved, we're seeing the prices also decline.
We saw wage gains start to outpace inflation around mid-year, mid-2023.
And that should continue into 2024 because inflation continues to ease.
We are still seeing strong wage gains.
They're not as strong as they were earlier in 23, but still they are better than they were pre-pandemic.
And so if we continue to have pretty solid wage gains and we continue to have inflation easing as it has been this year, then we should see wages better keeping up with inflation compared to 2022 and earlier in 2023.
What's been interesting this year is that in spite of elevated inflation and in spite of the Fed raising interest rates, borrowing costs across the economy, essentially, to help cool inflation, we have seen consumer spending really hold up.
Consumers have really continued to spend in a way that has surprised economists and many economy watchers.
But that is not expected to continue because the labor market is expected to cool down a little bit as the impact of the Fed's interest rate hikes continue to make their way through the economy.
Many Americans were sitting on extra savings that they accumulated earlier in the pandemic.
People are expected to basically exhaust those funds.
And so as those things happen, we should start to see consumer spending slow and we should start to see the fact that people are grappling with higher prices compared with pre-pandemic to sort of show up more in their consumption habits.
We should start to see people maybe pull back on spending a little bit.
Supply is a big part of the inflation picture.
So for instance, in 2022, one of the things that helped drive up the price of gas was fear that there would be a disruption in supplies because of Russia's war in Ukraine.
There was a lot of fear around that.
Part of the reason why gas prices have come down is because some of those fears have started to ease as there have been policy measures put in place to kind of insulate energy markets from the impact of that war.
And we also know that, for instance, when there's bad weather that affects certain crops or when there's a drought or a flood in certain areas that affects certain crops, that can also affect the price of those goods and subsequently the prices that we see when we go to buy those things at the grocery store.
During the post-pandemic period, another supply issue has been labor.
Showing 41–60 of 439 · page 3 of 22
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