Evercore's Hyman Says June Jobs Report Was 'Goldilocks'

The video discusses the current economic conditions, highlighting the unexpected coexistence of high employment and low inflation. It explores the Federal Reserve's relaxed stance due to the lack of wage-driven inflation and predicts potential future inflation. The discussion also covers the implications for the stock market, noting the slowdown in average hourly earnings and its impact on the bull market. The overall tone suggests a 'Goldilocks' economy, where conditions are neither too hot nor too cold, benefiting the markets.

What is the significance of average hourly earnings in the context of the discussion?

In what way does the speaker relate the current economic cycle to previous cycles?