Fed Confidence in Transitory Inflation Hinges on Low Wage Gains
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Brady Miller is paying more for vinyl siding for his construction business and for groceries to feed his family. He can’t charge customers more, showing why some Federal Reserve officials say inflation will ease.
“We don’t spend money on anything, we don’t take vacations, and I am not saving money right now,” Miller, 36, says. He has told his wife that he is going to drive their 2005 Dodge Caravan “until that thing falls apart.”