Powell wants to keep wages tethered to his preferred reality of 2% inflation versus the actual reality people live on. The real issue with inflation is it deval

Powell wants to keep wages tethered to his preferred reality of 2% inflation versus the actual reality people live on. The real issue with inflation is it devalues the public hallucination; fiat money: https://www.wsj.com/articles/transcript-fed-chief-powells-postmeeting-press-conference-11651696613 https://www.wsj.com/articles/transcript-fed-chief-powells-po... Fear mongering over employment security is a favorite tactic: https://www.nytimes.com/1997/02/27/business/job-insecurity-of-workers-is-a-big-factor-in-fed-policy.html https://www.nytimes.com/1997/02/27/business/job-insecurity-o... The reality is “people need to eat”, will trade as they must to do so. We don’t actually rely on government officials to do the work; we placate the die hards by speaking in the traditions. They’re yanking on the leash they have. Big tech looking to axe senior talent and big pay days for cheaper Gen Z grads; a quiet wealth redistribution plan. Some of the rich senior tech people would move on to cheaper locales and perhaps build businesses. We’re in the ML era and a lot of senior folks are from the “manually program a machine” era; that’s a way over valued skill set now; it’s everywhere. Cheaper talent with the latest collegiate training not the old ways baked in, could offset the expense of moonshots, hoping to boost an ML-backed cloud economy post generic server backed cloud. Google’s Eric Schmidt has been in DC lobbying for AI investment: https://www.vox.com/recode/2022/6/9/23160588/eric-schmidt-americas-frontier-fund-google-alphabet-tech-government-revolving-door https://www.vox.com/recode/2022/6/9/23160588/eric-schmidt-am... Picking the winners right away to avoid the last decades shotgun approach.