Wage Puzzle

(1) Yellen’s job machine. (2) Labor market dashboard showing less slack on balance. (3) There’s always room for improvement. (4) Meet the NILFs and those of them who would like a job. (5) No sign that dropouts are dropping back into labor force. (6) Global competition putting a lid on price inflation, which is moderating wage inflation. (7) Workers of the world unite! Your enemies are robots, not Chinese workers! (8) The Trauma of 2008. (9) The Fed is politically neutral, while Fed officials are either red (Republicans), white (Independents), or blue (Democrats). (10) Trump to Yellen: “You’ll be fired.”