Jerome Powell’s Worst Fear Risks Coming True in Southern Job Market
- Paychecks are climbing at the service businesses eyed by Fed
- That’s feeding through into closely-watched inflation gauge
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In downtown Nashville, chef Matt Farley is serving up trouble for Federal Reserve Chair Jerome Powell.
Acme Feed and Seed, the restaurant and honky tonk he manages on the main live-music drag, has been jacking up prices for everything from fried chicken to a rack of ribs. There are two big reasons. Food supplies are way more expensive – pork costs two-and-a-half times what it used to, for example. More worrying for the Fed, so are workers.