The minimum wage in Florida recently saw its first increase on the way to the new $15 an hour wage, as did many other states. Now we are seeing stories about restaurant chains who are increasing prices. The wages are hurting profits, and more price increases are on the way. By March, McDonald’s prices were up 6% year over year, with another 3 to 4% increase coming in the next quarter.
The FED, as the US central bank, can’t restrict the money in circulation by increasing interest rates as long as the Federal government increases spending by 16% year over year.