GrumpyG on Nostr: Few understand that causing unemployment was the stated goal of the Fed. Powell has ...
Few understand that causing unemployment was the stated goal of the Fed. Powell has repeatedly said in speech after speech that he is trying to tame "wage inflation" or in other words, wage growth... you do that by decreasing the demand for labor... which causes unemployment.
They were fine with inflation as long as it only affected price. When we saw real wage growth for the first time since 2001 they went on attack to crush the consumer/worker.
Translation: Your government hates you.
Published at
2024-06-25 19:45:05Event JSON
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"content": "Few understand that causing unemployment was the stated goal of the Fed. Powell has repeatedly said in speech after speech that he is trying to tame \"wage inflation\" or in other words, wage growth... you do that by decreasing the demand for labor... which causes unemployment. \n\nThey were fine with inflation as long as it only affected price. When we saw real wage growth for the first time since 2001 they went on attack to crush the consumer/worker. \n\nTranslation: Your government hates you. ",
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