<p>顶尖经济学家 <strong>Justin Wolfers</strong> 警告称，随着新发布的 5 月 CPI 报告 显示 “实际工资” 连续六个月下降，工人的收益在 2026 年完全被侵蚀，正面临日益严重的 “可负担性危机”。</p>
<h2><strong>薪资受到冲击</strong></h2>
<p>根据 Wolfers 的说法，最新的通货膨胀激增 是由两个 “不利的供应冲击” 直接导致的：不断升级的战争推高了能源成本，以及关税提高了日常商品的价格。</p>
<p>由于价格上涨速度快于薪资，典型美国工人的 “购买力” 停滞不前，自 2025 年 1 月以来没有增加一分钱。</p>
<p>“油不会停留在你的油箱里，” Wolfers 指出，警告称这一能源冲击正在迅速演变为更广泛的核心通货膨胀问题。</p>
<blockquote>
<p>价格上涨速度快于薪资。⁣</p>
<p>⁣</p>
<p>平均工资未能跟上通货膨胀，这意味着典型薪资的购买力正在下降。⁣</p>
<p>⁣</p>
<p>我解释了是什么驱动了这一现象——以及为什么头条新闻可能会变得更加响亮：https://t.co/kolre4RGsk pic.twitter.com/GYRWALlucx</p>
<p>— Justin Wolfers (@JustinWolfers) 2026 年 6 月 10 日</p>
</blockquote>
<p><strong>另请阅读：</strong>
<strong>通货膨胀再次超过 4%：华尔街可能重新考虑的 ETF 策略，因美联储风险上升</strong></p>
<h2><strong>广泛的经济痛苦</strong></h2>
<p>其他领先的金融专家也表达了这些担忧。<strong>Bill Adams</strong>，第五第三商业银行的首席美国经济学家，确认伊朗战争使国内汽油价格同比上涨了惊人的 40.5%，推动了头条通货膨胀的 “超大幅增长”。</p>
<p>此外，Adams 强调，劳动密集型服务面临着巨大的上行压力，迫使 “超级核心 CPI” 达到自 2025 年初以来的最高水平。</p>
<p><strong>Jeffrey Roach</strong>，LPL Financial 的首席经济学家，补充说，核心年通货膨胀在 5 月加速至 2.9%。Roach 警告称，如果霍尔木兹海峡的运输中断持续到劳动节，持续的能源冲击将严重扰乱整个夏季的货币政策预期。</p>
<h2><strong>华尔街为加息做好准备</strong></h2>
<p>因此，金融部门正在为新任主席 <strong>Kevin Warsh</strong> 的激进 转变 做准备。</p>
<p><strong>Chris Zaccarelli</strong>，Northlight Asset Management 的首席投资官，指出核心指标的强劲上升意味着美联储没有放松的余地。</p>
<p>Zaccarelli 警告称，美联储的下一个举措可能实际上是加息而不是降息，明确表示 “如果情况保持不变，那么一切都将不再受限。”</p>
<h2><strong>2026 年市场表现如何？</strong></h2>
<p>标准普尔 500 指数年初至今上涨了 5.96%。同样，纳斯达克综合指数上涨了 8.32%，道琼斯指数年初至今上涨了 3.18%。</p>
<p><strong>SPDR S&amp;P 500 ETF Trust</strong> (NYSE: SPY) 和 <strong>Invesco QQQ Trust ETF</strong> (NASDAQ: QQQ)，分别跟踪标准普尔 500 和纳斯达克 100，周三收盘下跌。SPY 收盘下跌 1.58%，报 $725.43，而 QQQ 下跌 2.00%，报 $693.69。</p>
<p>与此同时，道琼斯追踪器 <strong>State Street SPDR Dow Jones Industrial Average ETF Trust</strong> (NYSE: DIA)，周三收盘下跌 1.80%。</p>
<p><strong>另请阅读：</strong>
<strong>油价因伊朗袭击上涨，纳斯达克 100 因高通胀下跌：今日股市</strong></p>
<p><strong><em>免责声明：</em></strong> <em>本内容部分由 AI 工具生成，并由 Benzinga 编辑审核和发布。</em></p>
<p><em>图片来源：Shutterstock</em></p>

<p>经济学家贾斯廷·沃尔弗斯警告称，由于战争和关税带来的供应冲击，实际工资在六个月内下降，可能会导致 2026 年的可负担性危机。通货膨胀超过工资增长，侵蚀了购买力。其他专家证实核心通胀和能源成本上升。因此，尽管近期股市上涨，美联储可能会选择加息而非降息，这将影响货币政策预期</p>

<p>Top economist <strong>Justin Wolfers</strong> has warned of a growing “affordability crisis” as the newly released May CPI report reveals that “real wages” have been falling for six consecutive months, completely eroding worker gains in 2026.</p>
<div class="lb-trans"><p>顶尖经济学家 <strong>Justin Wolfers</strong> 警告称，随着新发布的 5 月 CPI 报告 显示 “实际工资” 连续六个月下降，工人的收益在 2026 年完全被侵蚀，正面临日益严重的 “可负担性危机”。</p>
</div><h2><strong>Shocks Batter Paychecks</strong></h2>
<div class="lb-trans"><h2><strong>薪资受到冲击</strong></h2>
</div><p>According to Wolfers, the latest inflation surge is a direct result of two “unhelpful supply shocks”: an escalating war pushing up energy costs and tariffs raising prices on everyday goods.</p>
<div class="lb-trans"><p>根据 Wolfers 的说法，最新的通货膨胀激增 是由两个 “不利的供应冲击” 直接导致的：不断升级的战争推高了能源成本，以及关税提高了日常商品的价格。</p>
</div><p>Because prices are rising faster than paychecks, the “purchasing power” of the typical American worker has flatlined, failing to rise a single penny since January 2025.</p>
<div class="lb-trans"><p>由于价格上涨速度快于薪资，典型美国工人的 “购买力” 停滞不前，自 2025 年 1 月以来没有增加一分钱。</p>
</div><p>“Oil doesn't stay in your gas tank,” Wolfers noted, warning that this energy shock is quickly morphing into a broader core-inflation problem.</p>
<div class="lb-trans"><p>“油不会停留在你的油箱里，” Wolfers 指出，警告称这一能源冲击正在迅速演变为更广泛的核心通货膨胀问题。</p>
</div><blockquote>
<p>Prices are rising faster than paychecks.⁣</p>
<p>⁣</p>
<p>Average wages haven't kept pace with inflation, which means the purchasing power of the typical paycheck has been falling.⁣</p>
<p>⁣</p>
<p>I explain what's driving it—and why the headlines are likely to get louder: https://t.co/kolre4RGsk pic.twitter.com/GYRWALlucx</p>
<p>— Justin Wolfers (@JustinWolfers) June 10, 2026</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>价格上涨速度快于薪资。⁣</p>
<p>⁣</p>
<p>平均工资未能跟上通货膨胀，这意味着典型薪资的购买力正在下降。⁣</p>
<p>⁣</p>
<p>我解释了是什么驱动了这一现象——以及为什么头条新闻可能会变得更加响亮：https://t.co/kolre4RGsk pic.twitter.com/GYRWALlucx</p>
<p>— Justin Wolfers (@JustinWolfers) 2026 年 6 月 10 日</p>
</blockquote>
</div><p><strong>Read Also:</strong>
<strong>Inflation Is Back Above 4%: The ETF Strategy Wall Street May Revisit As Fed Risks Drift Higher</strong></p>
<div class="lb-trans"><p><strong>另请阅读：</strong>
<strong>通货膨胀再次超过 4%：华尔街可能重新考虑的 ETF 策略，因美联储风险上升</strong></p>
</div><h2><strong>Broad Economic Pain</strong></h2>
<div class="lb-trans"><h2><strong>广泛的经济痛苦</strong></h2>
</div><p>Other leading financial experts echo these anxieties. <strong>Bill Adams</strong>, Chief U.S. Economist at Fifth Third Commercial Bank, confirmed that the Iran War pushed domestic gasoline prices up a staggering 40.5% from a year earlier, driving an “outsize increase” in headline inflation.</p>
<div class="lb-trans"><p>其他领先的金融专家也表达了这些担忧。<strong>Bill Adams</strong>，第五第三商业银行的首席美国经济学家，确认伊朗战争使国内汽油价格同比上涨了惊人的 40.5%，推动了头条通货膨胀的 “超大幅增长”。</p>
</div><p>Furthermore, Adams highlighted that labor-intensive services are under heavy upward pressure, forcing “Supercore CPI” to its highest level since early 2025.</p>
<div class="lb-trans"><p>此外，Adams 强调，劳动密集型服务面临着巨大的上行压力，迫使 “超级核心 CPI” 达到自 2025 年初以来的最高水平。</p>
</div><p><strong>Jeffrey Roach</strong>, Chief Economist for LPL Financial, added that core annual inflation accelerated to 2.9% in May. Roach warned that if shipping disruptions through the Strait of Hormuz extend past Labor Day, the persistent energy shock will heavily upend monetary policy expectations throughout the summer.</p>
<div class="lb-trans"><p><strong>Jeffrey Roach</strong>，LPL Financial 的首席经济学家，补充说，核心年通货膨胀在 5 月加速至 2.9%。Roach 警告称，如果霍尔木兹海峡的运输中断持续到劳动节，持续的能源冲击将严重扰乱整个夏季的货币政策预期。</p>
</div><h2><strong>Wall Street Braces For Hikes</strong></h2>
<div class="lb-trans"><h2><strong>华尔街为加息做好准备</strong></h2>
</div><p>Consequently, the financial sector is preparing for an aggressive pivot by the Federal Reserve as incoming Chair <strong>Kevin Warsh</strong> takes the helm.</p>
<div class="lb-trans"><p>因此，金融部门正在为新任主席 <strong>Kevin Warsh</strong> 的激进 转变 做准备。</p>
</div><p><strong>Chris Zaccarelli</strong>, Chief Investment Officer for Northlight Asset Management, noted that a strong rise in core metrics means the Fed is in no position to ease.</p>
<div class="lb-trans"><p><strong>Chris Zaccarelli</strong>，Northlight Asset Management 的首席投资官，指出核心指标的强劲上升意味着美联储没有放松的余地。</p>
</div><p>Zaccarelli warned that the Fed’s next move may actually be a rate hike rather than a cut, stating clearly that “if things stay as they are currently, then all bets are off.”</p>
<div class="lb-trans"><p>Zaccarelli 警告称，美联储的下一个举措可能实际上是加息而不是降息，明确表示 “如果情况保持不变，那么一切都将不再受限。”</p>
</div><h2><strong>How Have Markets Performed In 2026?</strong></h2>
<div class="lb-trans"><h2><strong>2026 年市场表现如何？</strong></h2>
</div><p>The S&amp;P 500 index has advanced 5.96% year-to-date. Similarly, the Nasdaq Composite index was up 8.32%, and the Dow Jones gained 3.18% YTD.</p>
<div class="lb-trans"><p>标准普尔 500 指数年初至今上涨了 5.96%。同样，纳斯达克综合指数上涨了 8.32%，道琼斯指数年初至今上涨了 3.18%。</p>
</div><p>The <strong>SPDR S&amp;P 500 ETF Trust</strong> (NYSE: SPY) and <strong>Invesco QQQ Trust ETF</strong> (NASDAQ: QQQ), which track the S&amp;P 500 and Nasdaq 100, respectively, closed lower on Wednesday. The SPY ended down 1.58% at $725.43, while the QQQ was lower by 2.00% to $693.69.</p>
<div class="lb-trans"><p><strong>SPDR S&amp;P 500 ETF Trust</strong> (NYSE: SPY) 和 <strong>Invesco QQQ Trust ETF</strong> (NASDAQ: QQQ)，分别跟踪标准普尔 500 和纳斯达克 100，周三收盘下跌。SPY 收盘下跌 1.58%，报 $725.43，而 QQQ 下跌 2.00%，报 $693.69。</p>
</div><p>Meanwhile, Dow tracker, <strong>State Street SPDR Dow Jones Industrial Average ETF Trust</strong> (NYSE: DIA), closed 1.80% lower on Wednesday.</p>
<div class="lb-trans"><p>与此同时，道琼斯追踪器 <strong>State Street SPDR Dow Jones Industrial Average ETF Trust</strong> (NYSE: DIA)，周三收盘下跌 1.80%。</p>
</div><p><strong>Read Also:</strong>
<strong>Oil Jumps On Iran Strikes, Nasdaq 100 Falls On Hot Inflation: Stock Market Today</strong></p>
<div class="lb-trans"><p><strong>另请阅读：</strong>
<strong>油价因伊朗袭击上涨，纳斯达克 100 因高通胀下跌：今日股市</strong></p>
</div><p><strong><em>Disclaimer:</em></strong> <em>This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<div class="lb-trans"><p><strong><em>免责声明：</em></strong> <em>本内容部分由 AI 工具生成，并由 Benzinga 编辑审核和发布。</em></p>
</div><p><em>Photo courtesy: Shutterstock</em></p>
<div class="lb-trans"><p><em>图片来源：Shutterstock</em></p>
</div>

Justin Wolfers Warns Of 'Affordability Crisis' As Real Wages Fall For Sixth Straight Month

benzinga_article

五三银行

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标普 500 指数

纳斯达克综合指数

道琼斯指数

标普 500 ETF - SPDR

纳指 100 ETF - Invesco

纳斯达克 100 指数

道琼斯指数 ETF - SPDR

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五三银行-存托优先股Series K

Fifth Third Bancorp Pref Shares FITBM 6.875 Perp 10/01/30

五三银行-Series A

Justin Wolfers 警告，由于实际工资连续第六个月下降，可能会出现 “可负担性危机”