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“Many participants expressed concern that the low inflation readings this year might reflect not only transitory factors, but also the influence of developments that could prove more persistent,”
“The minutes said “many” participants “continued to believe” that labor-market pressures would eventually show through to higher inflation.”
Comment:
Are these people serious?? They need answers?? If I have the answers, they should also have and know the answers. $1.40 minimum wages in 1967 had a LOT more purchasing power than the $7/hr or even $0, or $15/hr of today.
We here all know…the labor Dept has UNDERSTATED THE INFLATION RATE FOR DECADES. If those BOZOS really don’t have answers they are not qualified.