Majority Siegel: Improvements in US productivity will curb inflation rebound

Jeremy Siegel, former finance professor at Wharton School of Business（Jeremy Siegel）He stated that he is not worried about a rebound in inflation, despite signs that the US economy has remained resilient against the backdrop of the Federal Reserve's active tightening policies over the past year.

According to the latest estimates from the Atlanta Federal Reserve, the United States in the third quarterGDPExpected to grow5.8%. At the same time, employment growth and(5.19, -0.04, -0.76%)Wage growth remains strong in the United States7The month has increased18.7Ten thousand job positions, with a year-on-year increase in hourly wages4.4%。

But recent statistics have shown a significant improvement compared to last year, when the US economy employed nearly500Wanxin Workers,GDPUnable to grow1%. Siegel said that this is a reflection of low economic productivity, and this trend has been reversed.

Siegel said in an interview on Friday, "That's70The worst production rate performance in many years. And this year, our recruitment speed is not half as fast as before,GDPThe growth rate is two to three times higher than before. Why? This is one of the biggest productivity rebounds I have ever seen. This is saving Powell. That's why we canGDPWhile experiencing significant growth, maintain the trend of anti inflation

Although the latest consumer price index shows that the United States7The monthly inflation rate slightly rebounded to3.2%, but has been removed from2022year6month9.1%The peak value of has significantly decreased.

Siegel explained that as productivity improvements justify higher wages and drive more economic output, inflation will not accelerate again.

He added, "I believe productivity is the fundamental force in suppressing inflation