Request for econ reporters: just as when you write about bonds you must point out yields and prices move in opposite directions, whenever you write about worker shortages, make it a rule to also discuss wages. It’ll be a public service. Thanks
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By the way, this tweet was not meant as a criticism of this WSJ story which does discuss wage increases. Many worker shortage stories do not discuss wages...
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@neelkashkari
As a former financial journalist (for 30 years), asking journalists to make an economic argument for higher wages when reporting worker shortages is out of bounds. I agree wages are crucial, but they're journalists, not economists. Getting the shortage story right is their job.
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@RobertFrickNFCU
I didn’t say “argue for higher wages.”I asked that they report what is happening to wages. Just reporting business complaints seems like reporting one side of the story.
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@neelkashkari
In fairness, one of these is a trivially true mathematical fact, the other has a few moving parts and potentially confounding factors.
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The Fed used to understand how real wages work.
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@neelkashkari
Yes. and also stop using the price of the Costco hot dog as the only input in the CPI. Thanks.
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@neelkashkari
@tdgraff
It's going to be a challenge to get all 10 million of the lost workers back into the laborforce:
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@neelkashkari
And when the Fed begs for more inflation please also mention more wealth inequality
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@neelkashkari
Please also mention how
@neelkashkari
has destroyed real economy in favor of blowing bubble in assets to favor the 1% over the 99%
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@neelkashkari
Maybe if your QE/ZIRP policies did not skyrocket the price of lumber, companies could afford to pay higher wages. Don’t forget to always mention QE and ZIRP.
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@neelkashkari
@TimDuy
To further expand on this point about bonds, please make sure to also mention that in order to maintain their value as a financial asset and prevent a financial collapse we have to continue to make them more worthless.
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@neelkashkari
If you and your comrades could maybe discuss the clear link between monetary policy and societal inequality...
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