3 ms·
The FAANG example was exaggerated, but the core point still stands. Across the board, labor in US has seen sharp income increases the last couple years, and fam
by trgn 4y ago
The FAANG example was exaggerated, but the core point still stands. Across the board, labor in US has seen sharp income increases the last couple years, and families have had elevated savings rate for a lot longer. Plus, nobody was spending anything in the beginning of COVID. That latent spending power of households is now being deployed, and huge contributor to inflation.