The US jobs report was a warning sign – even before the Omicron surge | Robert Reich

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The US jobs report was a warning sign – even before the Omicron surge | Robert Reich
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The Fed wants to raise interest rates and coronavirus support programs are ending. Millions of families stand to suffer

The Fed has it backwards. Wage increases have not caused prices to rise. Price increases have caused real wages to fallYes, supply bottlenecks have caused the costs of some components and materials to rise. But large corporations have been using these rising costs to justify increasing their own prices when there’s no reason for them to do so.

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