Fed Officials Worry the Economy Is Too Good. Workers Still Feel Left Behind.

Just can't get it right, I guess.

'Ann Jacks quit her job as a restaurant chef in North Carolina, started her own business and worked 80 hours a week for two years, before exhausting herself and her patience. She shut down the company and, in November, returned to her old job. It paid a dollar an hour more than it did when she left it.

Ms. Jacks, who now earns $22,000 a year and said she couldn’t afford her health insurance deductible, is one of many Americans still waiting to feel the effects of an improving economy nearly a decade after the Great Recession.

“I don’t see evidence of the wages getting higher, except for specific types of jobs, like management, banking,” she said. “My attorney friends aren’t hurting.”

Yet Federal Reserve officials are beginning to worry about a possibility that seems remote to workers who still feel left behind: the danger of the economy’s running too hot, destabilizing financial markets and setting off a rapid escalation in wages and prices that could force the central bank to slam the brakes on growth.

Officials at the Fed have in the past few weeks escalated a public and private debate over how close the economy is to “overheating,” a condition when abnormally low unemployment can trigger spikes in inflation and destabilize financial markets.'>>>

https://www.nytimes.com/2018/04/26/us/politics/fed-economy-overheating.html?