At a time when the majority of people in US would need a 77% pay raise to make a living wage, the Fed thinks what we need to do is to try to “get wages down.”
NEWS: As workers are getting crushed, Biden’s Fed Chair Jerome Powell just said his goal is to “get wages down.” Powell is a former private equity mogul. levernews.com/the-fed-declar…

Jun 14, 2022 · 11:33 AM UTC

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Replying to @marwilliamson
The Fed poured trillions of dollars to support Wall Street, which I think is the root cause of the massive inflation we are experiencing, and now the Fed wants working people to pay the tab.
We actually need to increase the disposable income of Americans.
Replying to @marwilliamson
Getting wages down is reprehensible!
I love you and I respect all of your views and beliefs but please work on understanding the risks of a wage-price spiral when it comes to inflation Higher wages have to be coupled with caps to costs or it will get worse marketplace.org/2022/05/04/i…
Replying to @marwilliamson
Is he willing to start with himself?
Replying to @marwilliamson
You should run for POTUS Marianne!
Replying to @marwilliamson
Looks like Powell is doing a good job, for as Professor Mankiw says, in his economics textbook, that's one of the virtues of inflation: that it is a stealth way to lower wages...
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Replying to @marwilliamson
It’s like no one notices that economies can’t endlessly grow without heathy lower and middle classes of consumers. We’re seizing sanctioned Russian oligarch yachts around the globe, but what about all the other yachts? American oligarchs can be threats to democracy too.
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Replying to @marwilliamson
It's not about money, it's about CONTROL
Replying to @marwilliamson
Unfortunately, people flush with money is what has caused “inflation.”
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