“Today, we just raise prices,” says Jim Bianco.  “The economy has fundamentally changed since 2020.”

All of these labor battles are indicative of the new “mosaic,” whereby companies have no problems raising prices, and oil climbs higher, but there is no demand destruction.  This is a no landing scenario.  Dr. El-Erian asks Mr. Bianco if he thinks this will all spillover into a wider price impact, and he thinks it will by slightly loosening price expectations.