<p>頂尖經濟學家 <strong>Justin Wolfers</strong> 警告稱，隨着新發布的 5 月 CPI 報告 顯示 “實際工資” 連續六個月下降，工人的收益在 2026 年完全被侵蝕，正面臨日益嚴重的 “可負擔性危機”。</p>
<h2><strong>薪資受到衝擊</strong></h2>
<p>根據 Wolfers 的説法，最新的通貨膨脹激增 是由兩個 “不利的供應衝擊” 直接導致的：不斷升級的戰爭推高了能源成本，以及關税提高了日常商品的價格。</p>
<p>由於價格上漲速度快於薪資，典型美國工人的 “購買力” 停滯不前，自 2025 年 1 月以來沒有增加一分錢。</p>
<p>“油不會停留在你的油箱裏，” Wolfers 指出，警告稱這一能源衝擊正在迅速演變為更廣泛的核心通貨膨脹問題。</p>
<blockquote>
<p>價格上漲速度快於薪資。⁣</p>
<p>⁣</p>
<p>平均工資未能跟上通貨膨脹，這意味着典型薪資的購買力正在下降。⁣</p>
<p>⁣</p>
<p>我解釋了是什麼驅動了這一現象——以及為什麼頭條新聞可能會變得更加響亮：https://t.co/kolre4RGsk pic.twitter.com/GYRWALlucx</p>
<p>— Justin Wolfers (@JustinWolfers) 2026 年 6 月 10 日</p>
</blockquote>
<p><strong>另請閲讀：</strong>
<strong>通貨膨脹再次超過 4%：華爾街可能重新考慮的 ETF 策略，因美聯儲風險上升</strong></p>
<h2><strong>廣泛的經濟痛苦</strong></h2>
<p>其他領先的金融專家也表達了這些擔憂。<strong>Bill Adams</strong>，第五第三商業銀行的首席美國經濟學家，確認伊朗戰爭使國內汽油價格同比上漲了驚人的 40.5%，推動了頭條通貨膨脹的 “超大幅增長”。</p>
<p>此外，Adams 強調，勞動密集型服務面臨着巨大的上行壓力，迫使 “超級核心 CPI” 達到自 2025 年初以來的最高水平。</p>
<p><strong>Jeffrey Roach</strong>，LPL Financial 的首席經濟學家，補充説，核心年通貨膨脹在 5 月加速至 2.9%。Roach 警告稱，如果霍爾木茲海峽的運輸中斷持續到勞動節，持續的能源衝擊將嚴重擾亂整個夏季的貨幣政策預期。</p>
<h2><strong>華爾街為加息做好準備</strong></h2>
<p>因此，金融部門正在為新任主席 <strong>Kevin Warsh</strong> 的激進 轉變 做準備。</p>
<p><strong>Chris Zaccarelli</strong>，Northlight Asset Management 的首席投資官，指出核心指標的強勁上升意味着美聯儲沒有放鬆的餘地。</p>
<p>Zaccarelli 警告稱，美聯儲的下一個舉措可能實際上是加息而不是降息，明確表示 “如果情況保持不變，那麼一切都將不再受限。”</p>
<h2><strong>2026 年市場表現如何？</strong></h2>
<p>標準普爾 500 指數年初至今上漲了 5.96%。同樣，納斯達克綜合指數上漲了 8.32%，道瓊斯指數年初至今上漲了 3.18%。</p>
<p><strong>SPDR S&amp;P 500 ETF Trust</strong> (NYSE: SPY) 和 <strong>Invesco QQQ Trust ETF</strong> (NASDAQ: QQQ)，分別跟蹤標準普爾 500 和納斯達克 100，週三收盤下跌。SPY 收盤下跌 1.58%，報 $725.43，而 QQQ 下跌 2.00%，報 $693.69。</p>
<p>與此同時，道瓊斯追蹤器 <strong>State Street SPDR Dow Jones Industrial Average ETF Trust</strong> (NYSE: DIA)，週三收盤下跌 1.80%。</p>
<p><strong>另請閲讀：</strong>
<strong>油價因伊朗襲擊上漲，納斯達克 100 因高通脹下跌：今日股市</strong></p>
<p><strong><em>免責聲明：</em></strong> <em>本內容部分由 AI 工具生成，並由 Benzinga 編輯審核和發佈。</em></p>
<p><em>圖片來源：Shutterstock</em></p>

<p>經濟學家賈斯廷·沃爾弗斯警告稱，由於戰爭和關税帶來的供應衝擊，實際工資在六個月內下降，可能會導致 2026 年的可負擔性危機。通貨膨脹超過工資增長，侵蝕了購買力。其他專家證實核心通脹和能源成本上升。因此，儘管近期股市上漲，美聯儲可能會選擇加息而非降息，這將影響貨幣政策預期</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>頂尖經濟學家 <strong>Justin Wolfers</strong> 警告稱，隨着新發布的 5 月 CPI 報告 顯示 “實際工資” 連續六個月下降，工人的收益在 2026 年完全被侵蝕，正面臨日益嚴重的 “可負擔性危機”。</p>
</div><h2><strong>Shocks Batter Paychecks</strong></h2>
<div class="lb-trans"><h2><strong>薪資受到衝擊</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>根據 Wolfers 的説法，最新的通貨膨脹激增 是由兩個 “不利的供應衝擊” 直接導致的：不斷升級的戰爭推高了能源成本，以及關税提高了日常商品的價格。</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>由於價格上漲速度快於薪資，典型美國工人的 “購買力” 停滯不前，自 2025 年 1 月以來沒有增加一分錢。</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>“油不會停留在你的油箱裏，” Wolfers 指出，警告稱這一能源衝擊正在迅速演變為更廣泛的核心通貨膨脹問題。</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>價格上漲速度快於薪資。⁣</p>
<p>⁣</p>
<p>平均工資未能跟上通貨膨脹，這意味着典型薪資的購買力正在下降。⁣</p>
<p>⁣</p>
<p>我解釋了是什麼驅動了這一現象——以及為什麼頭條新聞可能會變得更加響亮：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>另請閲讀：</strong>
<strong>通貨膨脹再次超過 4%：華爾街可能重新考慮的 ETF 策略，因美聯儲風險上升</strong></p>
</div><h2><strong>Broad Economic Pain</strong></h2>
<div class="lb-trans"><h2><strong>廣泛的經濟痛苦</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>其他領先的金融專家也表達了這些擔憂。<strong>Bill Adams</strong>，第五第三商業銀行的首席美國經濟學家，確認伊朗戰爭使國內汽油價格同比上漲了驚人的 40.5%，推動了頭條通貨膨脹的 “超大幅增長”。</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 強調，勞動密集型服務面臨着巨大的上行壓力，迫使 “超級核心 CPI” 達到自 2025 年初以來的最高水平。</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 的首席經濟學家，補充説，核心年通貨膨脹在 5 月加速至 2.9%。Roach 警告稱，如果霍爾木茲海峽的運輸中斷持續到勞動節，持續的能源衝擊將嚴重擾亂整個夏季的貨幣政策預期。</p>
</div><h2><strong>Wall Street Braces For Hikes</strong></h2>
<div class="lb-trans"><h2><strong>華爾街為加息做好準備</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，金融部門正在為新任主席 <strong>Kevin Warsh</strong> 的激進 轉變 做準備。</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 的首席投資官，指出核心指標的強勁上升意味着美聯儲沒有放鬆的餘地。</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 警告稱，美聯儲的下一個舉措可能實際上是加息而不是降息，明確表示 “如果情況保持不變，那麼一切都將不再受限。”</p>
</div><h2><strong>How Have Markets Performed In 2026?</strong></h2>
<div class="lb-trans"><h2><strong>2026 年市場表現如何？</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>標準普爾 500 指數年初至今上漲了 5.96%。同樣，納斯達克綜合指數上漲了 8.32%，道瓊斯指數年初至今上漲了 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)，分別跟蹤標準普爾 500 和納斯達克 100，週三收盤下跌。SPY 收盤下跌 1.58%，報 $725.43，而 QQQ 下跌 2.00%，報 $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>與此同時，道瓊斯追蹤器 <strong>State Street SPDR Dow Jones Industrial Average ETF Trust</strong> (NYSE: DIA)，週三收盤下跌 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>另請閲讀：</strong>
<strong>油價因伊朗襲擊上漲，納斯達克 100 因高通脹下跌：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>免責聲明：</em></strong> <em>本內容部分由 AI 工具生成，並由 Benzinga 編輯審核和發佈。</em></p>
</div><p><em>Photo courtesy: Shutterstock</em></p>
<div class="lb-trans"><p><em>圖片來源：Shutterstock</em></p>
</div>

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

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Justin Wolfers 警告，由於實際工資連續第六個月下降，可能會出現 “可負擔性危機”