MIDDAY POSTER: The Fed’s New Warning About Today’s Minimum Wage
Also: Biden opens a detention camp for migrant children, Big Gas tries to quash green energy efforts, and OMB director nominee Neera Tanden is on the ropes.
According to data from the U.S. Bureau of Labor Statistics and the U.S. Department of Labor compiled by the St. Louis Federal Reserve, the minimum wage is worth less today than it has ever been, compared to the average wage being earned by U.S. workers. According to the Organisation for Economic Co-operation and Development (OECD), the U.S. minimum wage also lags behind that of the rest of the developed world. If it were raised to $15, it would rank third, behind Turkey and Chile.
• The Biden administration opens a detention camp for children that immigration activists call “a huge step backward.”
• The gas lobby is trying to use preemption laws to keep local governments from banning natural gas infrastructure.
• After one nasty tweet too many, Center for American Progress chief Neera Tanden appears unlikely to have the votes to become Biden’s director of the Office of Management and Budget.
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