Article

2022-11-18 Economy

Fed tells employers to STOP giving pay rises in order to bring inflation down: Warns wages are rising faster than they have in decades - and there are now almost two jobs for every person looking for work

[Daily Mail, where America gets its news]

Christopher Waller, one of six members of the board of the Federal Reserve, on Wednesday addressed the Annual Economic Forecast Luncheon, held in Arizona

Waller, a governor of the Fed since December 2020, used his speech to emphasize 'the Federal Reserve's ongoing fight to reduce inflation'

He urged employers not to give any pay rises, saying that it was pushing up inflation

'At any other time, I would be pretty unhappy about slowing growth, but not now,' Waller said

Posted by Skidmark 2022-11-18 00:00|| || Front Page|| [11143 views ] Top

#1 These people are insane.

Mike

Posted by MikeKozlowski 2022-11-18 06:09|| 2022-11-18 06:09|| Front Page Top

#2 Practice what you preach Waller. Don't give gov employees a raise next year.

Posted by The Walking Unvaxed 2022-11-18 06:18|| 2022-11-18 06:18|| Front Page Top

Somehow you knew this inflation problem would end up being their fault.

Posted by Besoeker 2022-11-18 06:42|| 2022-11-18 06:42|| Front Page Top

#4 Hey, how about forgoing annual federal 'bonuses' this year! Fight Inflation Now!

Posted by Procopius2k 2022-11-18 07:30|| 2022-11-18 07:30|| Front Page Top

#5 These people really hate the regular worker, don't they?

Posted by DarthVader 2022-11-18 07:46|| 2022-11-18 07:46|| Front Page Top

#6 These people really hate the regular worker, don't they?
Yes they do.If you are on Social Security and still have to work you pay Social Security and Medicare. A certain amount is taken out of your Social Security for Medicare. After a certain amount of pay from your job you have to pay taxes on that plus taxes are taken out of your Social Security. Depending on how much you made you could be required to pay taxes on up to 75% of Socual Security. They really do look at it as THEIR money.

Posted by Deacon Blues 2022-11-18 09:50|| 2022-11-18 09:50|| Front Page Top

#7 perhaps Christopher Waller could donate his salary to the Gubbamint, like Donald Trump did?

Posted by Frank G 2022-11-18 09:53|| 2022-11-18 09:53|| Front Page Top

#8 Private sector cannot until all Public Sector Employers cuts 5% of workforce, and 5% on wages, and unemployed receive goods instead of money/credits.

Posted by swksvolFF 2022-11-18 10:30|| 2022-11-18 10:30|| Front Page Top

#9 If the government was to actually cut staff you know it would just be the ones who send your tax refunds and issue your drivers licenses.

Posted by Glenmore 2022-11-18 10:48|| 2022-11-18 10:48|| Front Page Top

#10 Perhaps Musk has the right idea.

Musk triggers liberals with email urging employees to commit to ‘extremely hardcore’ work: Musk's ‘hellscape'

Posted by Skidmark 2022-11-18 11:15|| 2022-11-18 11:15|| Front Page Top

#11 The biggest employer took 86,000 mop pushers off the hiring list for premium IRS wages, and yeah not the tax return department kind.

A 20 hour week is going to be hard-core for those used to free foosball, private crying rooms, and a 5 Michelin Star buffet.

Posted by swksvolFF 2022-11-18 12:06|| 2022-11-18 12:06|| Front Page Top

#12 Real wages have gone down every month for close to two years. In cases where two openings are available for every job seeker, a wage level freeze will just double already high turnover rates.

Posted by Super Hose 2022-11-18 12:23|| 2022-11-18 12:23|| Front Page Top

#13 As if employers needed encouragement.

Posted by Angstrom 2022-11-18 13:32|| 2022-11-18 13:32|| Front Page Top

#14 Supply and Demand
I’m sure Mr Waller heard of it somewhere
If demand is higher than supply, the price of supply will rise.

These numbskulls don’t even understand basic economics much less macroeconomic and monetary theory

We’re in worse trouble than I thought

Posted by Sock Puppet of Doom 2022-11-18 13:38|| 2022-11-18 13:38|| Front Page Top

#15 Private sector cannot until all Public Sector Employers cuts 5% of workforce, and 5% on wages, and unemployed receive goods instead of money/credits.

Thread winner. Well said.

Posted by no mo uro 2022-11-18 15:49|| 2022-11-18 15:49|| Front Page Top

#16 Depending on how much you made you could be required to pay taxes on up to 75% of Socual Security.

I have long assumed that by the time I started collecting Social Security, we’d be paying 100% “income” tax on what the government sent us. So we started saving early against that eventuality.

Posted by trailing wife 2022-11-18 19:18|| 2022-11-18 19:18|| Front Page Top

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