former fed governor randy kroszner joins us now for more. governor kroszner, thanks for joining us.abor market holding up in the face of 5.5%? gov. kroszner: it is awfully resilient, more resilient than the fed or anyone had expected. dramatic, a rapid rise of interest rates. one of the things i think has helped to keep the labor markets run the economy strong is it is really in the last six months or so that real interest rates, that is the inflation-adjusted interest rate, has become positive. even though non-interest rates went up dramatically, the inflation rate has now come down dramatically, but the interest rate is staying around 5%. jonathan: can you tell me what you think wage growth is not running away? gov. kroszner: we have seen much faster nominal wage growth, and that has persisted even as inflation has come down, so we are starting to see you wage growth, which is great for households, but her means it will be less attractive for firms to hire workers. it was great when they could hire workers with wages going about 4%. but now they're having to pay for percent more f