The Return of US Manufacturing Means More Inflation

While everyone celebrates the Taiwain Semiconductor announcement of a $40 billion chip factory in Arizona and Apple CEO Tim Cook says he plans to use those chips in iPhones, there is a reality check in store for everyone involved: the increasing cost of US labor and compliance. That means inflationary forces that could persist for years or even decades. Today's data from the Bureau of Labor Statistics provides sobering insight into just how bad that could be.

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