Lower-paying industries driving wage pressure on Fed
Breakfast with Benjamin How rising pay on the low end of the wage scale is pressuring the Fed as it ponders raising rates.
- Federal Reserve Chair Janet Yellen referred to increasing wage pressures as justification for raising interest rates this year. And who are the folks getting those raises? Mostly people at the low end of the wage scale.
- Speaking of a hot topic in employment, most jobs in the coal industry disappeared a long time ago. The industry in Virginia peaked in 1982.
- You can always get lots of readers with an outrageous thesis, such as “Is Passive Investing Worse than Marxism? Lots of reaction to this particular bit of pearl clutching. You can read some here.
- Be wild. Be free. Meet a billionaire or two in the middle of the desert. Burning Man is underway. Bring sunscreen and be willing to barter.
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