Fooling around with interest rates isn't going to bring back the core manufacturing businesses which once formed the hubs of American middle class prosperity. That will be just as ineffectual as it has been throughout the Obama administration. Why should it work now all of a sudden when it hasn't worked for ten years?
Well, what else would you expect from the man tasked with implementing the useless TARP sideshow?
Neel Kashkari still hasn't got a clue, but he sure does sound like the workers' friend.
Minneapolis Fed chief links rates to labor share in interview
Kashkari’s break from Fed tradition on inequality adds to the case
for keeping interest rates low. He suggested faster wage growth and low
unemployment may not be putting much upward pressure on inflation
because workers have lost a lot of their bargaining power in recent
decades, echoing a point Fed Vice Chairman Richard Clarida has made. ...
