"The ‘threat’ of rising wages has been a persistent theme in the financial press since inflation began rising sharply from mid-2021. A number of media commentators have raised the risk of a wage-price spiral"
If only those commentators, and the RBA itself, paid attention to the profit-price spiral.
@grogsgamut.bsky.socialIain Ross, RBA Monetary Policy Board member, pours a big bucket of rationality and cold water on suggestions there might be a wage-price spiral coming
www.rba.gov.au/speeches/202...
rba.gov.au
A Wage-price Spiral: What are the Chances? | Speeches
Speech delivered by Iain Ross AO, Monetary Policy Board member, University of Melbourne Centre for Employment and Labour Relations Law, Melbourne
