Agree:
U.S. core inflation will have a “3-handle” and will be trending down in December 2023, said Adam Posen, the former Bank of England official on Tuesday.
Regarding labor pressures:
Higher immigration is the “simplist, fastest, cleanist, most beneficial answer” to this problem, Posen said.
In a very short-term outlook, may be, perhaps. But … demographics is the root issue and there are not going to be enough skilled immigrants to meet the needs of the dozens of countries that expect to import skilled workers.
