When All Else Is Out of Bounds, Zap Labor
From Nixon’s wage controls to today’s interest rate hikes, the fight against inflation has targeted labor.
Another "green shoot" that has brown splotches all over it: the latest report of higher consumer spending for June appears to be the result of higher prices for basic goods like food and energy, rather than any newfound desire of consumers to part with their dwindling stash of greenbacks.
From the NYTimes:
Higher Costs Spur Rise in U.S. Consumer Spending
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