Does it make anyone else angry that Janet Yellen and the Federal Reserve are trying to “Get Wages Down”? I would ask who these people work for, but that’s fairly obvious at this point, and it certainly isn’t any of us.
Wages have failed to keep up with the rest of the economy for decades now. The middle class belongs on the Endangered Species List. But paying people a moderately comfortable wage, or even a living wage, would get in the way of maximizing corporate profits.
Late stage capitalism is bad enough without having the government actively trying to make it harder on the average worker. We need to protest these policies!
I had the same question after watching Cathy Wood of Ark Invest’s jobs report yesterday. My thought being “isn’t higher wages a good thing, and can help people weather inflation?”
As others have said, there are better ways the fed can go about dealing with inflation than wanting the average person to have lower wages. It’s frustrating.