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Boston Federal Reserve President Susan Collins expressed confidence Friday that policymakers can tame inflation without doing too much damage to employment.
“By raising rates, we are aiming to slow the economy and bring labor demand into better balance with supply,” Collins said in prepared remarks for a Boston Fed conference on the labor market. “The intent is not a significant downturn. But restoring price stability remains the current imperative and it is clear that there is more work to do.”
Comment:
Inflation and deflation are caused by number one fiat money and the Fed. Which leads to speculation on the futures market combined with hoarding and or dishoarding of oil contracts stocks bonds and real estate.
For example if oil or silver or labor is too cheap and it suddenly doubles its not inflation it’s a correction and….
Labor and wages had nothing to do with inflation. And if 70% of the economy is consumer spending to support retail and in turn “Chinese workers” they had better get wages a lot higher.
But the system seems to be trying to override low wages by giving money to people forgiving loans and giving grants to create business activity. Imo the system is naturally trying to go into deflation.
The boat has a bad leak but rather than fix the leak they just keep bailing. Eventually the leak may override the idiots with buckets.