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Isn't it interesting that the biggest mitigating tool is "loosening the labour market", which is thinly veiled code for "make people unemployed so we can pay th
by naasking 4y ago
Isn't it interesting that the biggest mitigating tool is "loosening the labour market", which is thinly veiled code for "make people unemployed so we can pay them less", despite the fact that corporate profiteering and not wages are behind most of the recent inflation:
https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/ https://www.epi.org/blog/corporate-profits-have-contributed-...
Maybe claw back the money supply from corporations instead of the labour market. If instead of having only one tool, they also had this complementary tool, maybe we'd see better policies.
- tootie 4y agoAll things the Fed has zero authority over. That article says it has policy suggestions and then has a single half-baked thought at the end over what that policy might actually be. Right now, unemployment remains rock bottom. Fed policy is to raise rates until inflation comes down with as little impact on unemployment as possible. That's exactly what they're doing. Idk what else you expect them to do. Cut rates? Like they've been doing in Turkey?
- naasking 4y agoI'm not interested in standard Fed policy, I'm interested in better solutions that don't punish the labour market to prop up capital.