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Peterson: The greatest cost for businesses is labor due to shortages and rising wages

11/12/24
CNBC Télévision

Dana Peterson, Chief Economist at The Conference Board, discusses the uncertainty surrounding the Federal Reserve's potential quarter-point rate cut, noting that inflation remains higher than expected due to persistent costs in insurance, wages, and shelter. She emphasizes that while the labor market is steady and consumer spending is stable, businesses are struggling with labor shortages and rising costs.

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