Today’s Outside the Box comes from Sam Rines of Chilton Capital Management in Houston, TX – a promising young economics contributor to The National Interest and a rising star who I met at Worth Wray’s wedding a few weeks ago and it didn’t take much convincing from Worth to get me to share Sam’s latest article with you. Sam’s work speaks for itself and I am VERY impressed by his insights on a wide range of economic issues – from the evolution of Fed policy and growing risk of a rising US dollar, to the long-awaited industrialization of India.
In his latest piece, Sam alerts us to a breakdown in the Federal Reserve’s full-employment mandate (one leg of its dual mandate, the other being stable prices). In a normal recovery, Sam reminds us, “Wage growth and the labor market move together in a lagged fashion – the labor market heals and tightens, followed by wage increases as labor becomes increasingly scarce. But [Read more…] about The Biggest Threat to U.S. Jobs