“Wages are not a big part of the high inflation story that we’re seeing,” Powell insisted, saying the jump “has not been a major contributor” to this year’s inflation.
Federal Reserve chairman
“They think you turn on a switch, and voila, it happens. Like when we’re kids, we’re told milk doesn’t just come to the markets,” Forbes explained with a tortured dairy analogy.
“There is no American with more insider knowledge about government policy that drives financial market movements than the chair of the Federal Reserve,” the report emphasized.