Federal Reserve's William Dudley Sees U.S. Weathering Oil Shock - WSJ.com

ON WAGES AND JOBS: Federal Reserve's William Dudley Sees U.S. Weathering Oil Shock - WSJ.com

How do you think wages go up or jobs get created?

What the government is now doing is to refuse to make any changes or adjustments to the laws, regulations and taxes that make the US a less-desirable place in which to do business (think also immigration policies which keep educated people out who can contribute to the jobs of the future).

Also, there is a huge dichotomy between the unemployment rates of those with (under 5%) and those without a college education.

The well-meaning minimum wage laws (and high ancillary employment costs) basically mean that if the economic utility of a job is less than the combined costs, the job either doesn't get created in the US or it is outsourced to another country.

Thus, the US has an education deficit (you can hear Obama exhorting people to try and keep kids in high school on Bloomberg radio, but you don't see him attacking a major source of the problem which include liberal education policies and the teachers unions). Thus, the upgrading of the education of our youngest workers is another failed Obama policy - because he can't confront his liberal and unions supporters.

Etc., etc. - the US should have policies that bring down labor costs for the less educated and the less educated need to be told they will have to work for less! Printing money with abandon is only delaying the inevitable and is making things worse. (Of course, those who don't understand this are likely to be the most hurt by these policies.)