Posted on 11/17/2022 3:33:32 AM PST by C19fan
Employers should stop giving pay rises to their staff, a member of the Federal Reserve's board has said, in a bid to help bring down inflation.
Christopher Waller, one of six members of the Fed's board, used a speech in Phoenix, Arizona to urge bosses to take into account inflation when looking at their labor force.
He pointed out that there are now almost two jobs for every person looking for work, and that wages were rising faster than they have in decades - making the target of 2 percent inflation even tougher to reach.
(Excerpt) Read more at dailymail.co.uk ...
Fixed it.
Wages need to rise quickly. The wage depression is a very destabilizing thing.
I think Congress should set a good example by refusing to give themselves any more pay increases.
starve longer, peasants.
US Govt.
If you’re a business and you need to fill a job, and there aren’t enough employees to go around.
Are you going to listen to the FED or are you going to offer a higher wage to get you job filled?
I’m thinking the FED is going to be completely ignored on this. But it is annoying that the FED is suggesting it.
The government controlling salaries, what could go wrong?
They came up with that phrase because the truth is you will be happy with nothing because they won’t have killed you...yet.
Fetterman is just one of those blue collar Pennsylvania everyday guys everyone there voted for./s
Exactemente.
Wages are too high is not how the issue should be framed. The issue is that workers’ paychecks buy less. What is the role that the feral reserve play in causing this? That’s the speech I want to hear from the ferals reserve.
In the meantime, no pay raises or bonuses for anyone employed by the feral reserve until inflation is <2%, and using real numbers calculate it.
Too many low testosterone men playing video games & smoking weed in their parents basement.
How charming, that the anti-communist president pushed for wage and price control power. He also gave us the EPA. To quote the Wall Street Journal, getting Nixon for Watergate was like getting Capone for tax evasion.
So...this clown failed ECON 101?
In the market, demand impacts price. Greater demand? Higher price follows. More jobs than candidates? Higher wages follow.
The market will find its own equilibrium, if the damn FEDS would just stay the hell out of it.
The federal minimum wage is only $7.25. Thing is, they’re paying low skill work $15.00/hrs or more. The people on the low end have gotten a huge wage increase. Sounds like they want everybody to get the same pay regardless of skills and education. Commie jackasses. Anything goes as long the big guy keeps getting 10%.
And the fascist employers will most-likely oblige.
Vote for Rinos and Democrats and this is the Shit you get.
And, you foster it off on the rest of us, you morons!
“Keep the peasants bound to the land!”
I certainly agree but I will add from my Econ classes in the 60s there was always considered a type of inflation called “Wage-Push” inflation. It is not always scarcity of goods.
Societal disruption occurred after the Black Death due to scarce workers.
How many people will the Bad Orange Man have to fire, Musk-style, do you think, to begin to thaw you out of that position?
This is not all caused by the demonkraps. When W became POTUS, total US debt was $5 trillion. It took W 8 years to get it to $10T. Obozo nearly doubled it. Trump added ~$5T too. Xiden has brought it up at least another $5T in less than 2 years. And long term, artificially low interest rates that allowed such drunken spending. In addition, with feral and state givernments, China too, shutting down their economies starting in 2020 marketplace in response to CCP virus compounded the problem - leading to more $$$ chasing fewer goods and people not working. There are other additional, compounding factors as well, we could be writing here for hours.
The proposed solution to help address what all the people running these institutions caused is to meddle in working people’s wages now? Does that include givernment employees? School teachers? Any doctor/hospital that accepts givernment medicare an medicaid? One could argue why stop there. The COLAs on social security monthly checks should be stopped as well? Welcome to the front line. Except we know that that won’t ever happen... givernment will keep on growing. Chickens are coming home to roost.
Bingo.
...and it's not like Hunter and Jao Bai-din are going to give less than 10% to the big guy.
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