I think that’s a little misleading.

Wages in this case are an indicator of inflation, and that’s what the federal reserve was trying to manage. It’s the same response presented anytime someone says let’s raise minimum wage to $25/hr. That works briefly, but then inflation pushes everything back up and you’re back to square one.

This isn’t the Fed saying they want to slash wages so the average Joe can’t get ahead. They’re trying to make wages affordable for businesses so the economy continues to function.

(I’m not advocating for this particular economic approach)