@davidaugust What other levers does the Fed have? The problem is caused by Congress not legislating against profit-taking (e.g. by making stock buybacks illegal again), and the FTC is only just now starting to take a close look at monopolies and monopsonies again. The Fed has the one lever they keep pulling.
@drahardja@davidaugust It is a very interesting idea that increasing minimum wage could slow inflation. Our economy is so complicated so I do not know how the dynamics would shake out, but my guess if when workers can afford the essentials and have discretionary funds left to go to the movies or a theme park that would be good for everyone.
@brennansv@drahardja the Fed does have one level to pull, and is intent on pulling it whether or not pulling that one level is helpful or destructive.
Yes, having a middle class that can afford to exist is good for the economy, in fact it was central to the prosperity of the US in middle of the last century. I agree with you.
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