No Interest Rate Hike: Federal Chair Jerome Powell Discusses (I added economic dribble to it.)

 We are at a time in our economic path where we avoided a rate hike and that helps maintain stability. There is some softening of the labor market but not so much to be concerned about it yet. Also consumer prices are coming down some which is good. Energy up and housing not having steep increases (I rent a flat in KY for my kids so please tell my landlord.) Basically, it means that you are not going to get an increase in your credit card payment anytime soon and there should be more greasing of job movement. Thus far everything seems healthy with a descent GDP increase. 

For those of you who are not born rich and didn't go to the best schools you should be a little happy. Most Americans are living from paycheck to paycheck so the interest rate is important to them to make ends meet (The sad reality of modern life. 60% if Americans are living Pay check to Pay Check. Something isn't working right.). I think if we start raising wages through stronger market pressures that rewards education/training and new technologies that enhance that skill we might find some benefits. 

Trickle down, trickle up and trickle sideways. Here is an article on The Productivity–Pay Gap

Alas, for the vast majority of us it would be nice if we have increased new job opportunities and people were paid higher wages for taking on those new roles. Upswings in the economy should also come with upswings in people's pay. Yes in a capitalistic society people should be paid for the work they produce. If its too top heavy its unstable in the long run (Also why I like small business for innovation and wealth obtainment.) That has only mildly happened yet and I think there could be more done to improve wages but precisely how to do that is the question.

The biggest question is How? The only idea at this second that comes to mind is increasing productivity through technology, rewarding innovation, and allowing workers and companies to benefit alike from increased in human capital (The dirty word!). Do I really know anything? Not really, I'm about as clueless as everyone else on the topic. However, I would suspect that is where I might look for answers.  

BTW I think Dr. Powell is doing a good job. Tough in this hyper political landscape. Everyone is a pessimist. I'm a rational optimist.