Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of their meeting released Tuesday.
As a result, the policymakers decided to leave their key benchmark rate unchanged but to keep it elevated for an extended period. Speaking at a news conference after the meeting, Fed Chair Jerome Powell kept the door open for another rate hike, though most economists say they think the central bank is done raising rates.
Don’t get excited. Prices won’t come down. They’ll just rise slower. The corporatocracy has decided that they’ve fleeced us good and hard and they better slow down turning the screws for a bit. Meanwhile your employer will piss and moan about how they’re doing you a favor with that 2.5% raise in “tough times” all while the shareholder report gushes with pride about increased revenue.
One of the things the article addresses is how the Fed is gauging wages catching up to inflation.
Yeah, “rising slower” is the goal. You don’t have to stay at an employer if they can’t beat inflation with raises. If they don’t beat inflation, switch employers and get a raise that way.
Regardless, the issue there isn’t inflation, it’s the relation of inflation to wages, and median wages have been beating inflation for a year and a half now.
If you don’t like high inflation and you don’t like it when inflation goes down I don’t know what to tell you.
The only wage that matters is your wage. Median wages being higher than inflation only helps if, like you said, you keep switching jobs. And only then if a potential employer is willing to meet median wages. Unfortunately depending on your skills, specialty, and location, changing jobs every 2 years might not be an option.
