Pimco's Fels Expects to See an Upside Inflation Surprise

The transcript discusses current economic conditions, focusing on wage growth, labor market participation, and inflation expectations. It highlights the potential impact of fiscal stimulus and trade policies on inflation and market reactions. The discussion also covers the FX markets' focus on trade policies and the potential impact on the dollar. Finally, it examines the Federal Reserve's view on inflation risks and the implications for future rate hikes.

What recent trends have been observed in wage growth according to the text?

How is the labor market described in terms of employment levels?

What are the potential risks to inflation mentioned in the text?

What factors are influencing inflation expectations according to the discussion?

What implications does a border adjustment tax have on the dollar and inflation?

What is the Fed's current stance on inflation and rate hikes?

How might fiscal stimulus impact the economy and inflation according to the text?