ronib
When the chairman of the Bank of England suggests that we should get used to having less money, I wonder just how much less he envisages. Seems possible that the economy is going to worsen and it is likely that poverty will spread up to the middle classes. As seen by the recent strikes in the Nhs, previously held middle class incomes are under pressure too.
Not the Chairman, ronib, the Chief economist. Who has no idea, on £190,000 per year, how the other half lives and who is quite wrong about wage increases causing inflation. Just plain wrong. Current inflation was caused by supply side shocks (Brexit, pandemic and war in Ukraine) and by profiteering. Wage increases have had nothing to do with it. Raising interest rates and telling the less well off that they have to put up with being poor will just slow growth even further. And create an even angrier population. Many ready to take on board the NC message 

