The chairman of the U.S. Federal Reserve, Jerome Powell, said his goal is “to get wages down.”
In a press conference on May 4, Powell announced that the Fed would be raising interest rates by half a percentage and implementing policies aimed at reducing inflation in the United States, which is at its highest level in 40 years.
According to a transcript of the presser published by the Wall Street Journal, Powell blamed this inflation crisis, which is global, not on the proxy war in Ukraine and Western sanctions on Russia, but rather on U.S. workers supposedly making too much money.
“Employers are having difficulties filling job openings, and wages are rising at the fastest pace in many years,” Powell complained.
The Fed’s proposed solution: bring down wages.
There are more job vacancies than there are unemployed people in the United States, as the economy recovers from the Covid-19 pandemic.
Full Article: https://mronline.org/2022/05/26/u-s-federal-reserve-says-its-goal-is-to-get-wages-down/
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0:00 Jerome Powell wants the Middle Class to take Pay cuts?
1:25 United States Inflation Breaks All Time Highs!
2:30 What type of Ivory Tower does Jerome Powell Live it?
3:30 US Government Got a 21% Pay Increase in 2022!
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