Behind The Markets Podcast: Steven Hou
Behind the Markets Podcast
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The Fed's Misguided Goal Is to Crush Wages
I think that the basic signs of the economy are strong. I'm just waiting for the Fed to realize that. Start the money supply growing again at 5% per year. It will be very interesting to see when they take your pivot suggestion. 2% to 3% by the end of the year is a very outlier call for what people are thinking. But all over, you cannot improve your economy by forcing wages down. You have to pay people their marginal product. That's why I think that is such a misguided goal of the Fed. We've got to crush wages failing to realize that's what's needed.
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