What Is Going to Be Asked About Fed Policy and Inflation?

mc lynch: It's labor discipline that we're seeing right now. The only analysis we ever get from the media is that its workers, often whoare the lowest paid people in this country, are responsible for inflation. That's patentlyn in this period, because the inflation was there before the pay round and it's been building all through the austerity. Most of our people haven't had a pay rise of two or three years. So it can hardly be true that it's wages that are causing inflation. Because the big corporations are not skimming their profits down and saying, i'll do a redistribution. They're shoring up their fi ancial position and paying off people in