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Why is the Federal Reserver trying to drive down wages? (www.cbsnews.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Does it make anyone else angry that Janet Yellen and the Federal Reserve are trying to "Get Wages Down"? I would ask who these people work for, but that's fairly obvious at this point, and it certainly isn't any of us.

Wages have failed to keep up with the rest of the economy for decades now. The middle class belongs on the Endangered Species List. But paying people a moderately comfortable wage, or even a living wage, would get in the way of maximizing corporate profits.

Late stage capitalism is bad enough without having the government actively trying to make it harder on the average worker. We need to protest these policies!

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[–] [email protected] 1 points 1 year ago

That sounds like it would be really difficult to track and implement in practice though. Companies would just bring in very slightly different models with new names, or do a bit of shrinkflation. Tracking like-for-like equivalents would be a nightmare and everything would get tied up in the courts.