I don't know who Jubak is, but he is correct about the wierdness of raising interest rates to combat inflation, which is the usual tactic to contain "wage inflation," which is non-existant.
I recall that the Fed got considerable credit for not raising rates to counteract the effect of the oil shocks in the 1970s. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
