Wages to Keep Rates Higher for Longer: ADP's Richardson

The video discusses the current state of the labor market, highlighting aggressive hiring by small and medium firms and the moderation of wages, which remain high. It explores the concept of a 'soft landing' for the economy, emphasizing that much of the labor market's current state is structural rather than cyclical. The discussion also covers the challenges of achieving the Fed's inflation targets and the likelihood of higher interest rates persisting due to labor shortages and wage pressures.

What does the speaker suggest about the future of employment growth over the next decade?

What is the speaker's perspective on the Federal Reserve's ability to manage the labor market?