Inflation has not moved faster than wage growth. On average people have more spending power now than in 2019 (or any other time). This is especially true for workers at the lower end of the wage spectrum.
Inflation has not moved faster than wage growth. On average people have more spending power now than in 2019 (or any other time). This is especially true for workers at the lower end of the wage spectrum.
@whstancil EPI seems to agree with you and I'm having trouble finding the source I was referring to, so it looks like I'm ceding this one to you. Thanks for the response.
@whstancil 23% inflation 2019-2024 (BLS). So you're arguing that lower-class workers' wages increased by over 23% in 5 years?
@whstancil Big if true. Those people are however unlikely to vote for you or anyone else.
@whstancil These arguments are a distraction. Governance must be anticipatory. What about borrowing 1 trillion USD every 100 days, a 35 trillion USD debt, and 1 trillion USD in annual interest payments? What does any of this mean with this debt growing larger by the second?
SUMMARY OF FED CHAIR POWELL'S COMMENTS (4/16/24): 1. Recent data "shows lack of further progress on inflation" 2. Inflation has "introduced new uncertainty" on whether the Fed can cut rates later this year 3. Fed can maintain higher rates for "as long as needed" 4. Recent data has not given greater confidence on inflation 5. Restrictive Fed policy needs more time to work 6. It will likely take longer to "regain confidence" on inflation What happened to the "Fed pivot?"
@whstancil How many people do you know, personally, whose wages have kept pace with inflation? What industries do they work in?
@whstancil Why lie, Will?