Daily Clips: March 15, 2017
Why does the financial community want higher interest rates? So that banks and other creditors can make more money, of course. And to head off inflation that for the moment is mostly imaginary. And to keep down worker pressure for higher wages. Just what you’d expect of financial elites.
Monitoring wages for signs of nascent inflationary pressure is a classic case of rearview-mirror forecasting. (Prices lead wages, not the other way around.) That’s why the Fed would do us all a favor if it discarded some of the platitudes and used Wednesday’s statement to outline its strategy, not just its goals.
We know the Fed is going to raise rates. We just aren’t sure what changed in a short period of time to create a sense of urgency.
Only 24% of voters support GOP health care plan: 49% oppose it.
Tweet of the day:
— Arizona's Politics (@AZs_Politics) March 15, 2017