>"Meanwhile we still don't have a minimum wage that is anything like livable. " This is because the Fed, as well as the entire US legislature, knows deep down

>"Meanwhile we still don't have a minimum wage that is anything like livable. " This is because the Fed, as well as the entire US legislature, knows deep down that wages are the final "finger in the dyke" of the whole system collapsing. For wages to truly begin rising would send inflation spiraling out of control. It's only under check now because the asset owning class is reaping the benefits; not the vast majority of wage earning lower/middle class which is keeping consumer prices in check. Our entire monetary policy is now pinned on the fact that wages will lag gains of productivity and inflation, so that the almighty CPI rate can be held up as evidence for low inflation and the free money gravy train keeps rolling for the monied elite.