The Fed understates real wage declines because it chain-weights inflation, masking that asset prices have so far outstripped wages that real wages have been massively negative; the FHFA's own unchained housing index rose 50% between 2020 and 2024 while wages did not.
factualpending
Speaker
Kyle BassEvidence Quote
“The US government's own unchain weighted housing index was up 50% between 2020 and 2024. 50. So, wages certainly are not 50 between 2020 and 2024.”
Source
Global Macro Investing And Geoeconomics With Hedge Fund Investor Kyle Bass | Hoover Institution— Hoover InstitutionCreated: 6/18/2026, 2:17:47 PM
My Notes
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