Please, Congresscritters, Federal Reserve Chairperson Jerome Powell needs to resign or be fired. https://news.yahoo.com/powell-puts-us-pay-hikes-150000366.html [news yahoo com]

> In his press conference after that decision on Wednesday, Powell returned to the theme. Right now, he said, wages are growing “well above what would be consistent with 2% inflation.”

> The pivotal question for Fed officials is whether the climb in US pay over the past 18 months or so is a one-time bump — as companies adjust to scarce labor supply, and a realization that their workforce was under-compensated — or a pernicious feedback loop in which prices and wages drive each other up.

He still doesn't seem to understand how shortages of products caused by offshoring and just-in-time inventories (e.g., management-by-fad) and the housing price spiral are huge parts of recent price inflation ... or how wages rose less than prices for decades and are only recently starting to respond. He has spent all of this year talking about how employees need to be punished. His goal appears to be that people will be willing accept a minimum wage job at Gree-C Burger and living in pup tents underneath nearby bridges.

Nor do he or Janet Yellen accept responsibility for their roles in rapidly expanding the money supply, providing the underlying inflation that allows the price inflation to proceed.

For these and other reasons, Mr Powell needs to be removed from office before he can hurt Americans even more than he already has.

!econusa