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Ron Gross posited that the economy is "firing on all cylinders," stating a GDP growth of 4.2%. Yet, he cautioned that inflation concerns persist, especially as costs rise for consumers. Matt Argersinger echoed this thought, emphasizing the close relationship between wage growth and inflation spreads. He shared a personal anecdote about rent increases in light of rising interest rates, stressing that this reality will soon be felt by many Americans.
Amazon's Impact on Wages and Competition
Amazon made headlines this week by announcing a raise to its hourly wage of $15 and encouraging other companies to follow suit. Aaron Bush heralded the move as a strategic chess play on Amazon's part to exert pressure on competitors who might struggle to match such wage increases.