Employers should stop giving pay rises to their staff, a member of the Federal Reserve’s board has said, in a bid to help bring down inflation, Your Content has learned.
Christopher Waller, one of six members of the board of the Federal Reserve, on Wednesday addressed the Annual Economic Forecast Luncheon, held in Arizona.
Waller, a governor of the Fed since December 2020, used his speech to emphasize ‘the Federal Reserve’s ongoing fight to reduce inflation’
He urged employers not to give any pay rises, saying that it was pushing up inflation.
‘At any other time, I would be pretty unhappy about slowing growth, but not now,’ Waller said,‘according to FLIPBOARD.