I could be wrong, I'm no economist, but based on the context, it sounds like he's using high wages as an _indicator_ of unmet demand in the labor force. High de

I could be wrong, I'm no economist, but based on the context, it sounds like he's using high wages as an _indicator_ of unmet demand in the labor force. High demand of workers means high salaries. Right now there is a high demand for workers that are not being filled. Here's the quote: "...because vacancies are at such an extraordinarily high level. There’re 1.9 vacancies for every unemployed person, 11.5 million vacancies, 6 million unemployed people" So, in order to close that gap between the 11.5 million vacancies, the fed will be doing some kind of monkeywrenching with the economy in order to bring down that number of vacancies, which will result in lower wages, because there is more supply of workers. Overall, the economy will be more productive due to the amount of work, which might mean that wages come down (and prices as well)