How Much Nominal Overheating?
June 25, 2022 at 21:09 PM EDT
NGDP is up 12.4% over the past 9 quarters, an annual rate of 5.3%. That’s too high. Nominal total wages and salaries are up 17.1% over the past 9 quarters, an annual rate of 7.3%. That’s way, way too high.