The issue isn’t that one small rate hike will destroy the economy, it’s that rate hikes like this are the Fed’s way of signalling that they will never let wages go up again.

—Duncan “Atrios” Black on the Federal Reserve’s 250 basis point (¼%) rate hike.

He is absolutely correct.

It is the official policy of the Fed, and much of the US government, to suppress wages of working people.

Either inflation or deficit concerns are the excuse.