Railroad workers recently agreed to a contract that raises wages 24 percent over five years, with an average immediate payout of $11,000 and an extra paid day off. That is good news for workers struggling with inflation, but Federal Reserve Chairman Jerome Powell doesn’t think so.
“You had said that Americans and business need to feel some economic pain as we go forward,” Fox Business reporter Edward Lawrence asked Powell in a September 21 press conference. “How long from here should Americans be prepared for economic pain?”
Powell responded, “It really depends on how long it takes for wages, and more than that, prices to
