Aina Puig, SF Fed Summer 2022 Research Scholar, shares her experience with the Unlocking Our Potential essay contest, her time at the SF Fed working with the Economic Research team, and her hopes for her research moving forward.
Households are currently expecting inflation to run high in the short run but to remain muted over the more distant future. Given this divergence, what role do household inflation expectations play in determining what workers expect for future wages? Data show that wage inflation is sensitive to movements in household short-run inflation expectations but not to those over longer horizons.
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