Wages are Still Sticky
Wage growth remains well above pre-COVID averages
Read AnalysisThe Allocator's Briefing
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View All →Rewriting the story
Jobs that never were... the weak January print (!)... and a Fed that's stuck.
Read AnalysisFrenemies: Money Supply & Inflation
Milton Friedman said "Inflation is and always will be a monetary policy phenomenon". With December's CPI coming tomorrow, those words are on my mind.
Read AnalysisLabor: Cooling not collapsing
Q4 2025 compensation growth decelerated YoY. The Fed gets the gradual wage moderation it wants, but services inflation will remain sticky.
Read AnalysisIts inflation, stupid
CPI was released but as usual, the first report of the year was faded by investors because of everyone's newest obsession: residual seasonality. Scratching your head on that one? Well, click here.
Read AnalysisWhy Zidle Macro
Blackstone-caliber thinking. Independent voice.
For the last 30 years, Joe Zidle has served as a top strategist for some of the world's largest financial institutions. Most recently, he spent nearly eight years as Chief Investment Strategist at Blackstone, where he was responsible for thematic research, asset allocation, and communicating the firm's macro views to a global audience.
Prior to Blackstone, Joe was a portfolio strategist at Richard Bernstein Advisors and spent a decade at Bank of America Merrill Lynch, rising to Head of Investment Strategy for Global Wealth Management.
- Former Chief Investment Strategist & Partner, Blackstone Private Wealth Solutions
- Former Head of Investment Strategy, Bank of America Merrill Lynch
- Portfolio Strategist, Richard Bernstein Advisors
- Frequent guest on CNBC, Bloomberg TV, and major financial media
- U.S. Army Reserves, Military Intelligence Specialist (1993–2001)
- B.A. Economics & History, Emory University
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