UK's central bank chief called for workers to "hold off asking for big pay raises because that will make inflation worse."
"That's painful. I don't want to in any sense sugar that," he told the BBC. "It is painful, but we need to see that in order to get through this problem more quickly."
It's not time for workers to get their fair share of the economic pie after decades of watching executive pay soar.
...compensation of the top CEOs increased 1,322.2% from 1978 to 2020 (adjusting for inflation). Top CEO compensation grew roughly 60% faster than stock market growth during this period and far eclipsed the slow 18.0% growth in a typical worker’s annual compensation.
U.S. Fed Chair Jay Powell ignored the question on inflation hitting the poor harder.
"I’m not aware of um, you know, inflation literally falling more on different socioeconomic groups. That’s not the point. The point is some people are just really prone to suffer more."
Central banks to the little people, keep suffering. To policy making billionaires, we got your back.
Update 2-8-22: Record bonuses for Wall Street have not been cited as inflationary by central banksters.
“It doesn’t make any sense how unemployment is through the roof and everyone just has money somehow. I have never seen an uptick in the higher-end spectrum of things like this with $200,000 cars being bought like they’re Jell-O.”Update 2-10-22: The British people didn't take kindly to their Fed Chief's comments. Understandably so.
