Justin Lahart
speaker
1,185 appearances
22 recordings
1 series
first heard Jul 2017
last heard Dec 2024
Justin Lahart’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Dow Volatility: Will the Fed Dial Back Rate Increases? · 8 Feb 2018
podcast
The first thing that you, or one of the first things that you come in, you're going to come in and be the person who held the market's hand because of a drop.
That sets a kind of, I guess I'm going to say lousy precedent.
That's the type of thing that get people thinking, oh, the Fed's always going to be there for us.
This guy's a patsy.
Yeah, one of the things that we have to think about is, you know, right now what we're seeing with the increase in wages is, you know, this reflects the strength of the economy and job market that's gotten to the point where, you know, we think it's pretty tight.
You know, what's going to happen next is we're going to have the effect of the tax plan, which really hasn't hit yet.
And the question now is, well, what happens when that tax plan hits an already tight labor market?
Yeah.
I mean, they're they don't want to be in a position to pay more.
Let's just, you know, when it comes down to it, you know, but they're in a position where they have to pay more.
Right.
Right.
Unemployment is low where there's lots of competition for workers and you have to pay up to get the workers that you need to get what you need done.
When the Fed sees that, it sees it as a sign of inflationary pressures building.
Not just because, you know, when your wages go up, you can spend more money.
But also it's just sort of seen as an indication that there's not a lot of capacity in the economy, if you will, and that just makes prices go up.
So this is the point where the Fed starts to think, yeah, we're going to see inflation go up, we're going to hit our 2% target, and we need to be ready for that.
Well, first thing to think about is, you know, all these thousand dollar bonuses that we've been hearing about.
Those aren't included in the wage numbers.
Those are one-time things that the Labor Department doesn't pay attention to.
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