An increase in immigration is helping the Fed reach their 2% inflation target faster, according to Apollo.
Since April 2020, immigration to the US has increased by 5.3 million people.
A rise in immigration puts downward pressure on wage growth.
As wage growth falls, so does… pic.twitter.com/OrRUiYpFrf
— The Kobeissi Letter (@KobeissiLetter) October 10, 2023