The US has a jobs problem: There are too many of them. There are currently around two jobs available for every unemployed person, and as a result, employers have had to raise wages to attract suitable candidates. That sounds like a good thing — and it is for Americans who are facing higher prices on everything from groceries to rent. But the Federal Reserve isn't very happy about it. In order to fight inflation, it needs to cool the economy, and larger salaries do the opposite. Higher labor costs can also get passed on by companies to consumers, and that means higher prices. This inflationary cycle — pay more and ... (full story)