No war but class war
I get the vibe that fed really basicly not gonna achieve its goal due to it not understanding the material basis of the the inflation which should crash everything.
They can try, but the labor shortage itself is structural
We lost 1 million to COVID. A significant minority of those were people of working age, along with the general increase in deaths of younger people in 2020-present due to the failure to manage COVID.
Drug/alcohol abuse is eliminating easily a couple million prime age workers from the labor force. For every OD, there's many times more people addicted and struggling.
Immigration has fallen off a cliff and doesn't seem to be increasing. Who would want to move here frankly?
Boomers are aging out of the workforce and there's no replacements. This actually hits the supply side too because we are losing valuable knowledge and therefore productivity takes a hit.
Crushing labor and cutting wages will make a certain kind of people morally satisfied and smugly happy, but it will be irresponsible and cause serious harm to the economy. Hopefully some capitalists with a brain who want to make profit rather than prove a moral point step in before a real crash.