How can inflation be so high right now when average incomes have stagnated for so long? People don’t have more money to spend. Why is inflation so high?
In: Economics
Neither one is causative towards the other. In the US, wages aren’t tied to inflation, leading to this exact problem.
The answer, of course, is for Congress to raise the minimum wage. Unfortunately, the vast majority of Congress would rather eat rat poison than do that.
Latest Answers