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I think that’s a little misleading. Wages in this case are an indicator of inflation, and that’s what the federal reserve was trying to manage. It’s the same r
by sircastor 3y ago
I think that’s a little misleading.
Wages in this case are an indicator of inflation, and that’s what the federal reserve was trying to manage. It’s the same response presented anytime someone says let’s raise minimum wage to $25/hr. That works briefly, but then inflation pushes everything back up and you’re back to square one.
This isn’t the Fed saying they want to slash wages so the average Joe can’t get ahead. They’re trying to make wages affordable for businesses so the economy continues to function.
(I’m not advocating for this particular economic approach)
- beaeglebeached 3y agoSure. First pin interest at zero ensuring the richest can get priority access to nearly free borrowing. Then let housing prices explode and then ratchet them down with 30 year loans with negative real interest that owners will never give up Once the housing is blown away, reverse the policies until wages depress and you're left with serfs. It's the worst nightmare of free market gone wrong at the behest of a doubling down government. They've absolutely fucked us; we would have been better off left alone.
- xtiansimon 3y ago“… nightmare of free market…government. […] …we would have been better off left alone.” Not a function of good government. _It’s just business_.
- me_me_me 3y agoits easier to siphon money from middle class instead of creating something by investing money Except we are at the stage where middle class has no more money to be stole from by the rich. And with middle class living paycheck to paycheck they will soon find out the road is heading towards a cliff for everyone.