Loading ...I wish I was there asking questions. He said something like labor participation rate was very high, so that could put downward pressure on labor rates. Huh? The Suffolk County Police tax absorbers are unionized make $200,000 plus big benefits. Their pay keeps up with cost of living, NOT supply demand.
The non union tax PAYERS get far less than cost of living, and also not related to supply and demand. Their basic minimum pay is dictated by Congress. Crappy inadequate union representation.
And that stupid 2% inflation target??? Not one grown adult in that room has asked him what the HELL are you talking about? He never explained where he/they want to maintain 2% annually higher numbers. And fear of too far below 2%.
The ONLY thing I can think of is the 10 year bond yield interest rate is below 2%. So they are fighting to get or keep interest rates around 2%?? The inflation rate is supposed to track the cost of living % rate.
Are they targeting food and fuel? New cars? With 6 year loans? They CAN’T be talking about real estate prices or rental prices. They are way above 2% annually.