I have been saying that wage pressures are mounting. The evidence is clear. In my MMT Trader report I have included this chart below.
This is the current. up-to-date, snapshot on Employment and Withholding Tax Deposits flowing to the Treasury. It is accelerating. This is an indication of mounting wage pressures and a significant tightening in the labor market.
Producer prices up 0.5% in today's report. Forecasts were for a 0.3% rise. Tomorrow, CPI and that will be a shocker, too.
Treasuries are a sale. Fed will resume rate hikes soon.
Dollar going down. Commodities, gold, stocks, emerging markets, all going up. That's where you want to be.