Isn’t it cute to see a forecast which assumes that for the first time in six decades unemployment rate will stay at extremely low level for few years and won’t spike higher as it always does?
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@MichaelAArouet One thing which is indeed different though is: Demographics
@MichaelAArouet That´s quite possible! As long as NGDP growth continues to converge (from above) to a stable 4%-5% growth (YoY) and the Wage/NGDP ratio remains stable (as it has for the past year)
@MichaelAArouet Ok tell us when the next spikes going to happen then
@MichaelAArouet Wow, look at that fiscal policy in 2020