Bloomberg's Connor Sen had this to say on Sunday and I think it's a great summary of what is to come:
I think if we’re all honest we’d admit that we can’t raise wages for lower income workers, catch up on a decade of underbuilding in housing, and invest in EV’s/climate/infrastructure, while also holding inflation to 2%. The goals are in conflict.
I'm not so sure that's a low-wage problem or an all-wage problem but his point stands. I also think the conversation about the costs of the green transition is coming. There simply aren't enough raw materials and industrial capacity to build what needs to be built (along with the latest US infrastructure package). I believe that, nimbyism and anti-oil policies have set us up for chronically high commodity prices -- particularly in industrial metals, steel, lumber, oil and natural gas.
