> If you are pro-labor you want the fed to aggressively raise rates because that makes life harder for business.
the fed presents its goals as balancing low unemployment against low inflation. any projections for unemployment have it increasing as the fed tightens. i haven’t seen anyone say who these newly unemployed are, nor where they end up. but if the tradeoff were “low unemployment, but those at the bottom of the wrung have to move to cheaper housing (and commute further, etc)” vs “higher unemployment: those at the bottom of the wrung are SOL and end up on the streets”… well, i certainly hope that’s not the tradeoff we’re actively choosing here.
the fed presents its goals as balancing low unemployment against low inflation. any projections for unemployment have it increasing as the fed tightens. i haven’t seen anyone say who these newly unemployed are, nor where they end up. but if the tradeoff were “low unemployment, but those at the bottom of the wrung have to move to cheaper housing (and commute further, etc)” vs “higher unemployment: those at the bottom of the wrung are SOL and end up on the streets”… well, i certainly hope that’s not the tradeoff we’re actively choosing here.