The head of the fed – the fed-head – Federal Reserve Chairman Jerome Powell, a man famous for complex answers, spoke very clearly yesterday:
“Inflation is much too high,” Powell said.
And he explained that, among the causes, are wage increases that are also too high:
“Wages are running at the highest level in many decades. That’s because of an imbalance between supply and demand in the labor market,” Powell continued.
“So we think through our policies, higher rates, for example, of vacancy filling and things like that, and more people coming back, and we’d like to think that supply and demand will come back into balance. Therefore, wage
→ Continue reading at MyNorthwest