Ryan GrimVerified account

Yesterday’s market plunge is extremely important to understand from a class, race and gender perspective, and here’s why:

Analysts said the market tanked on “fears of rising wages.” In our current system, rising wages indicate inflation, so the Fed pulls back and raised rates to cool the economy....

but that’s because the “inflation target” — the rate the Fed thinks is safe — is only 2%. Thanks to the work of activists like @AdyBarkan Janet Yellen, who was predisposed to lean this way already, was considering raising the target number...