Fed Vice Chair Fischer said the economy has almost met the Fed’s full employment goal.
That is nice of him.
We have a structurally rotten labor market. It started when Bill Clinton promoted off shoring of jobs. This is true by the way if you are too young to remember. Bill Clinton promoted and promoted and promoted the concept of “comparative advantage” to justify undermining America’s production powerhouse. It was Bill Clinton that got China admitted to the WTO, World Trade Organization. And his “deal” was massively one sided in favor of China. You know, those communist hammers that recently stole the Spratly Islands. The communist hammers that are so feared that when Chinese tourists visit Tinian Island where the internet is not censored, they are fearful using the internet because they think they might get caught.