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A comment on Speech by Chair Powell on monetary policy and price stability. Parent comment

Re:Speech by Chair Powell on monetary policy and price stabi... by throwaway0a5e on Monday August 29, 2022 @12:50PM (#32640432)
Which middle class are we talking about? The plumbers and nurses or the techies and doctors?

Because I think the former would justifiably be very, very, very happy to see the latter take a big haircut since the latter's money is a large part of what's propping up asset prices (and the prices of many consumer goods) and directly reducing the access the former has to such things.

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Re:Speech by Chair Powell on monetary policy and price stabi... by lotsofpulp on Monday August 29, 2022 @01:31PM (#32640986)
I always love seeing the uselessness of the term “middle class”. Or rather, lack of utility. Politically, it is a very useful term.
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Re:Speech by Chair Powell on monetary policy and price stabi... by dominotw on Monday August 29, 2022 @02:09PM (#32641447)
Middle class was defined by whitehouse recently wrt student debt cancellation as anyone who isn't in top 5% of income ( i.e household income of < 250k).
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Re:Speech by Chair Powell on monetary policy and price stabi... by DIARRHEA_xd on Tuesday August 30, 2022 @09:58AM (#32650498)
Pretty meaningless without location.
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