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Reply to "Wages, Inflation, the Fed, and my sad takeaway"
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[quote=Anonymous]Your take away is stupid, OP. What good are rising wages if it causes runaway inflation that ends up making everyone worse off? You conflate wage gains with *real earnings*. The Fed is much more concerned with the latter. Peoples' real earnings have been negative over the last year or two, because inflation as been rising more rapidly than wage growth, resulting in negative real earnings. The Fed is vastly concerned about the deterioration of real earnings for American workers, not nominal wage growth. Yes, it is entirely possible for the labor market to be too tight. Wages need to come down to reach a more appropriate equilibrium to tamp down on inflation and improve real earnings growth for workers. Stop confusing wages for real earnings for starters. Here, let me help you with understanding the basics for starters (this is the data the fed is very concerned about): https://www.bls.gov/news.release/realer.nr0.htm[/quote]
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