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Will employers giving workers pay rai...   The Serious You: How Current Events Affect You

Started Dec-4 by WALTER784; 219 views.
WALTER784
Staff

Poll Question From WALTER784

Dec-4

Will employers giving workers pay raises increase inflation? (See next post for details)
  • Yes3  votes
    37%
  • I don't know2  votes
    25%
  • No3  votes
    37%
Yes 
I don't know 
No 
In reply toRe: msg 1
WALTER784
Staff

From: WALTER784 

Dec-4

Biden's economy leads Fed to warn employers against giving workers raises

Board member claims better paychecks are boosting inflation

By Bob Unruh
Published November 17, 2022 at 11:14am

Under Joe Biden's economy, Americans are being slammed with the highest inflation in decades. It's costing them thousands of dollars more this year to pay the same bills as they had last year.
 
Gasoline prices have exploded, as have diesel prices, which hits at the cost of every consumer item delivered to retails stores. Biden recently proposed a requirement that diesel suppliers maintain an inventory, which will drive prices even higher.
 
Their retirement funds have been decimated, resulting in what for many of those nearly at that status probably will be a permanently lowered income for their latter years.
 
He's spending hundreds of billions of dollars on the "green" agenda, which today's children will have to repay with interest.
 
What else can happen?
 
Now we know.
 
The Federal Reserve is warning employers against giving workers raises.
 
According to a new report in the Daily Mail, Christopher Waller, one of the six members of the board, told the annual Economic Forecast Luncheon to quit giving workers raises, "saying that it was pushing up inflation."
 
"Wage growth has been a contributing factor to inflation, especially in the service sector, so it is important to get the labor market into better balance to bring future wage growth down to a more sustainable level that will assist in moving overall inflation lower," he claimed.
 
"At any other time, I would be pretty unhappy about slowing growth, but not now."
 
Waller, by the way, gets paid in excess of $183,000 for being on the board, according to the Federal Reserve itself.
 
He claimed there are "almost" two jobs for every person looking for work, which could be attributed at least partly to the impact of the government's COVID pandemic shutdown of America's economy, where many people took retirement and made other work arrangements and simply haven't returned to the old system.
 
WND is now on Trump's Truth Social! Follow us @WNDNews
 
The Fed this year repeatedly has raised interest rates across the nation, pushing the cost of borrowing much higher for consumers, hitting directly at their monthly pay-to-bills ratio.
 
Inflation hit a massive 9.1% in June, and it's backed off very slightly since then.
 
Waller continued, "Business contacts tell me of empty offices and idle production capacity because employers cannot find workers."
 
But within the last few weeks, Big Tech companies, Amazon, Twitter and Facebook, all have confirmed the firings of tens of thousands of workers.
 
And he repeated his warning about paying too much in salaries and wages.
 
"Wages have been rising more quickly than they have in decades, much faster than productivity growth plus 2 percentage points that I think of as consistent with the FOMC's 2 percent inflation objective," he said.
 
He said it is good that interest rate surges have slammed the housing market.
 
"As purchases of homes fall, so does demand for goods that typically accompany purchases—new carpeting, new furniture, new lawn mowers and so on. So slowing home sales will decrease demand for goods that complement the purchase of a new home and that will put downward pressure on the prices of those goods. Our goal is to rein in demand, bringing demand and supply into better balance, which will help reduce upward pressure on inflation," he said.

Biden's economy leads Fed to warn employers against giving workers raises (wnd.com)

FWIW

Showtalk
Host

From: Showtalk 

Dec-4

Those are his base voters. I hope the realize what he has done.

WALTER784
Staff

From: WALTER784 

Dec-4

Well, think about what the fed and that board member are saying...

>>>Board member claims better paychecks are boosting inflation<<<

That is totally false.

Inflation is mainly caused by government spending where there is no demand. And secondly, by reduction of fossil fuels increasing the price of gas/diesel.

Inflation is not caused by raising a person's pay. In fact, raising a person's pay will put more money in their hands. What that more money in their hands does is allows them to spend more on things they need. Spending more on things one needs increases demand, which in turn, works to decrease inflation.

So, what they claim is the exact opposite of what really happens.

Raising salaries will help to offset a small portion of the inflation, not increase it!

I'm just surprised that 2 people thus far have voted "Yes"!

When you have less money, you spend less. When you have more money, you spend more. It's just basic common sense. 

FWIW

  • Edited December 4, 2022 9:47 pm  by  WALTER784
Showtalk
Host

From: Showtalk 

Dec-4

But the government pays their salaries, so if they can keep those costs down they have more money to spend.

WALTER784
Staff

From: WALTER784 

Dec-5

Raising salaries will give employees more money to spend (which decreases inflation).

Not raising those employees' salaries will give the government more to waste (which increases inflation)!

So, if they raised employees' salaries, it would not be wasteful spending, but if they don't raise their salaries, it would be wasteful spending.

FWIW

  • Edited December 5, 2022 2:46 am  by  WALTER784
Showtalk
Host

From: Showtalk 

Dec-5

Will those denied raises protest? Riot?

WALTER784
Staff

From: WALTER784 

Dec-5

If they cannot even make ends meet on today's salaries... they will object.

But as for how they object... hmmmmm... who knows? Only time will tell.

FWIW

  • Edited December 5, 2022 10:19 pm  by  WALTER784
Showtalk
Host

From: Showtalk 

Dec-5

They need to vote

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