Gross: June Likely Time for One of Two Fed Rate Hikes

The transcript discusses potential interest rate hikes by the Federal Reserve, focusing on wage growth and unemployment rates. It critiques traditional economic models like the Phillips curve, highlighting the impact of participation rates. The conversation shifts to productivity and efficiency, questioning their role in job creation and economic growth, with references to Bill Gross's career.

What are the key points raised about the participation rate and its impact on unemployment statistics?

Discuss the changes in productivity mentioned in the text and their implications for the economy.