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Claudia Sahm: The Fed needs to start listening to normal people
['Claudia Sahm', 'Min Read', 'Aug.', 'Hours Ago']
TribLIVE
The time and effort that people put into managing higher prices wears on them and helps explain how resilience coexists with frustration.
Rising prices are more common than rising wages: “Sometimes when you get a job, salaries are frozen for two or three years.
Rising prices were a strain then, too, but workers were switching jobs to find higher pay.
Otherwise, the strategies for dealing with higher prices were much like those in the Beige Book: shopping around for deals, taking on debt, and relying on assistance programs.
The very best minds on inflation include the people paying the higher prices.