Wages are just the price of labor. Our currency is worth less, so employees are demanding more in dollar terms for their labor. I feel like people misunderstan

Wages are just the price of labor. Our currency is worth less, so employees are demanding more in dollar terms for their labor. I feel like people misunderstand/misrepresent what the fed officials say about the relationship between wages and inflation. The Fed doesn’t want to create unemployment or directly reduce wages. The ideal scenario is to curb inflation while keeping unemployment as low as possible (which is at a record low atm). Raising rates restricts the supply of credit, which makes servicing debt more difficult and usually results in layoffs. It’s not like the Fed is conspiring to keep the working class poor from a smokey back room…which I feel has become the narrative being pushed by media outlets nowadays.