I think most of you know I don't do politics, I only cover policies. I am selfishly excited about the coming week because we will start to find out what the true policies of the new administration will be (i.e., not just the campaign promises). I am skeptical that deportations will be of "historic proportions," but I suppose we will find out. This is purely from an economic perspective, but I have stared at this chart countless times in the last month. It shows that there has been ZERO growth in the U.S. labor force in recent years if we exclude immigration. I am not advocating one way or the other, but it seems pretty clear that "historic" deportations would alter labor markets dramatically and, all other things equal, prove inflationary. Curious if anyone has economic arguments that differ. Please keep your political opinions to yourself ... economic arguments only. FT
The impact of foreign-born workers on our labor force