Monday, January 23, 2023

Canada's Chrystia Freeland: "Maybe People In The Middle Class Need To Take A Pay Cut

She's being mooted as the next head of NATO, or maybe the WEF. Currently Deputy prime minister and the minister of finance.

With this sentiment she joins the head of the European Central Bank, Christine Lagarde.

From Reuters via Yahoo Finance, December 31:

Euro zone wages are growing quicker than earlier thought and the European Central Bank must prevent this from adding to already high inflation, ECB President Christine Lagarde told a Croatian newspaper.

The ECB has raised interest rates by a total of 2.5 percentage points since July in a bid to arrest a historic surge in inflation and has promised even more policy tightening over its next several meetings as longer term price growth expectations have started moving above its 2% target.

"We know wages are increasing, probably at a faster pace than expected," Croatian newspaper Jutarnji list quoted Lagarde as saying on Saturday. "We must not allow inflationary expectations to become de-anchored or wages to have an inflationary effect.".....