I can't figure out why other than maybe they think it would allow them to reestablish power in the labor market. It's exactly this and actions/comments from CE

I can't figure out why other than maybe they think it would allow them to reestablish power in the labor market. It's exactly this and actions/comments from CEOs and the Fed pretty much confirm it. When Powell said "economic pain" was necessary, he meant that mostly for the working class. Look at all the layoffs going on... By driving up unemployment, the Fed expected “supply and demand conditions in the labor market to come into better balance over time, easing the upward pressure on wages https://www.wsws.org/en/articles/2022/09/23/izio-s23.html https://www.wsws.org/en/articles/2022/09/23/izio-s23.html