The idea is that raising wages pushes strong growth (see Covid and stim payments) - and hence defaults are needed to keep total inflation in control. The opposite when real wage growth is low, you need to keep debt markets working to get inflation up....
The idea is that raising wages pushes strong growth (see Covid and stim payments) - and hence defaults are needed to keep total inflation in control. The opposite when real wage growth is low, you need to keep debt markets working to get inflation up....
The idea is that raising wages pushes strong growth (see Covid and stim payments) - and hence defaults are needed to keep total inflation in control. The opposite when real wage growth is low, you need to keep debt markets working to get inflation up....