This is how we end up needing patient ratio laws. “What do you mean our nurses are only taking care of eight patients each? How long does seeing a patient take, anyway? What do they even do all day?” -Someone who’s never done a real day of work in their lives*
*Or they once “worked” (but couldn’t be fired) for a year or two at their dad’s blue collar company, but weren’t dependent on the wage, so now they can say they “know what it’s like”.
The Fed was explicitly targeting so-called “wage inflation” when they did their rate hikes. Our wages have been cut over the last 40 years when you adjust for inflation, and nobody’s worried about that. Our wages start creeping up and the Fed takes a five alarm shit in the bed and tries to shut the economy down.