While the Fed may be surprised that low income workers aren’t as enthused about inflation as they are, we are not. A recent Bloomberg report looked at the stark disconnect between Fed policy and well, everybody else but banks and the 1%.
While the Fed sees low inflation as “one of the major challenges of our time,” Shawn Smith, who trains some of the nation’s most vulnerable, low-income workers stated the obvious: people don’t want higher prices. Smith is the director of workforce development at Goodwill of Central and Coastal Virginia.
https://www.zerohedge.com/news/2019-06-07/lower-income-americans-are-begging-fed-less-inflation
