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      The Fed Now Has Another Reason to Halt Anti-Worker Rate Hikes

      The recent failures of Silicon Valley and Signature banks and chaos in other corners of the banking sector definitely provide a new twist to this debate.

      Josh Bivens
      Mar 21, 2023

      The debate over the Federal Reserve’s proper course of action for the rest of 2023 was getting a little stagnant in recent months. The argument centered on whether inflation’s persistence was really a sign of an overheated economy that still needed cooling or if it was due to stubbornly large—but dampening—ripples stemming from the huge pandemic and war shocks of previous years. The recent failures of Silicon Valley and Signature banks and chaos in other corners of the banking sector definitely provide a new twist to this debate.

      My view on what the Fed should do now in the wake of banking failures is relatively straight-forward:

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      federal reserve
      Jerome Powell

      Friday's Surprisingly Positive Jobs Report Does Not Mean Fed Should Keep Raising Rates

      The basic reality is American workers don’t have the power to raise their wages. Big American corporations have the power to raise their prices.

      Robert Reich
      Feb 04, 2023

      Surprising most analysts and forecasters, employers added a whopping 517,000 jobs in January, according to Friday morning’s monthly labor report from the Bureau of Labor Statistics. This was almost twice the growth from December’s 260,000 jobs. The unemployment rate fell to 3.4 percent, the lowest since 1969.

      What does this mean?

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      Opinion
      Federal Reserve
      The American Shame of Mass Layoffs

      The American Shame of Mass Layoffs

      As a nation we have yet to decide that protecting the health and well-being of our working people should be a top priority.

      Les Leopold
      Jan 17, 2023

      More than 150,000 tech workers lost their jobs in 2022, according to one estimate, and an additional 23,000 have been laid off since the start of 2023.

      These workers are not alone. More than 30 million American workers have gone through mass layoffs since the Bureau of Labor Statistics started tracking them in 1996.

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      Opinion
      unemployment
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