The Fed's Wage Growth Is Rolling Over

Wage growth is finally rolling over as you'd expect it would, we're in the midst of the fastest Fed hiking cycle on record. The supply chains are cooling a lot, used car prices are down 20%. Inventories of new cars, remember, my wife and I went someplace and we were shopping for a car and the lot was practically empty. There's still a way below the 2019 levels, but new car inventories are finally going up again.