The service sector, including finance & insurance, in the New York Fed’s district, reports rising prices and wages, despite further deterioration in business. Weirdest economy ever.
OK, it’s getting a little crazy: Massive shifts due to working from anywhere and the Pandemic. But some of those shifts started well before the Pandemic.
During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance? (transcript of my podcast)
