[lelandbatey]

> "Monetary policymakers would face tradeoffs between unemployment and inflation. ... Education, workforce, and other policy that is non-monetary may be better suited to address these challenges in a more targeted way."

How comforting. Sounds to me like "ZIRP won't fix this one folks, it's gonna take something other than money to fix what's coming."

[lysace]

The only question is how ugly it's going to get. Globally.

The closest thing we've seen in terms of scope/velocity is probably the introduction of the web in the late 90s to the broader world. Very few jobs were killed by that, though, relatively speaking.

[bubblewand]

The global effect at my company is that we fired a bunch in the US, hired a bunch in India, and are probably gonna do the same again in a year or so, if I'm reading the tea leaves right. We're heavily pushing "AI" but we're not cutting headcount, just shifting them overseas.

[janalsncm]

The closest thing is probably workers displaced by machines in the Industrial Revolution. Some people took it into their own hands to smash machines, and it didn’t go well for them.

Today we use Luddite as an epithet, but they were right about the effect of automation on their jobs.

[cactusplant7374]

This whole thing stinks.

[fuzzfactor]

ZIRP was all used up a while ago. No more dry powder in that department.