Neel Kashkari, President Federal Reserve Bank of Minneapolis at Rotary

Neel spoke today at Rotary Club of Sioux Falls Downtown. He asked the audience to challenge him with tough questions.

He felt that if you are struggling finding workers or complaining about it, it is NOT that the workers don’t exist, but the wages are not high enough to attract them.

“If you’re not raising wages, you’re just whining.” (about finding enough workers)

I have consistently stood by the argument that when you pay your workers more, they spend more, which boosts the local economy, which in turn boosts the bottom line of your company. The middle class is more likely to spend more than they will invest or save if they make more, while the rich tend to put that money away where it doesn’t circulate as much.



8 comments ↓

#1 Emoluments Clause on 08.07.17 at 11:50 pm

Like I keep saying, “End the wage collusion in this town.”

And if you think there is no such collusion, then why don’t employers generally advertise their wages in employment ads any more?…. Well, I will tell you why, because they are embarrassed with their wage offerings and they fear a wage war……

Henry Ford knew a long time ago, that if you want to sell more cars and have a caring and involved employee base, then you need to pay your employees a good wage….

#2 Emoluments Clause on 08.08.17 at 1:29 am

I also think it is fascinating that Kashkari spoke to the Downtown Rotary Club.

And I think it is fair to assume that most members of the DRC probably voted for Trump too.

Often the media talks about how poor whites, who voted for Trump, stand the most to lose from the Trump agenda, but Kashkari’s comments on immigration and economic growth, and available employee pools prove that Trump’s agenda is also disadvantageous for the more affluent as well…… Because no one wins with Trump…. And Kashkari just proved this…..

#3 scott on 08.08.17 at 6:20 am

i’m sure after he said that higher wages attract workers, he was dismissed as a hack who doesn’t know what he is talking about.

#4 Emoluments Clause on 08.08.17 at 2:35 pm

Accept that this is a “Hack” that Bush43 hired to handle the banking crisis of 2008 as the initial head of the Troubled Asset Relief Program (TARP). Kashkari also backed Wisconsin’s Scott Walker, when Walker successfully moved to limit collective bargaining in that state.

So what Kashkari really is is some hard medicine for his crowd about wages and immigration and hopefully the local audience will listen….. Stop the wage collusion now!

#5 The Guy from Guernsey on 08.09.17 at 3:58 am

Mr Kaskari will never be invited back to a speaking gig in SD. Raise wage compensation to compete for the employees that your business needs? What is this crazy talk?

#6 The Guy from Guernsey on 08.09.17 at 4:05 am

On the other hand, the response on Cory’s page from an accountant [“decrease the number of fast food jobs available and the wages to fast food employees will rise”] is to be blunt, embarassing.

We dodged a bullet in the 2014 gubernatorial election.

#7 l3wis on 08.09.17 at 10:07 am

I said to one of my (Democratic) friends the other day, “Well, at least Billie Sutton will probably get more votes than Wismer.” and they responded, “Who?”

And they were serious.

#8 Emoluments Clause on 08.09.17 at 10:41 am

“Who” told the DRC a couple of months ago, that he votes for Republicans sometimes…. Gee, “Who” is more acceptable to the DRC and/or Chamber thought process, than a Republican economist like Kashkari…

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