Fiscal Policy Must Do Its Part for Income Growth: Amarnath

The video discusses Gross Labor Income (GLI) and its implications for the Federal Reserve's policy framework, contrasting it with the current inflation-centric approach. It explores the roles of monetary and fiscal policies in economic growth, the challenges of achieving inflation targets, and the importance of job and wage growth. The discussion also covers the impact of deficits on demand generation, the effects of minimum wage laws, and alternative policies like the earned income tax credit.

What does GLI stand for and how is it related to the concept of labor income?

How has the Federal Reserve's inflation target changed over the years, and what challenges have they faced in meeting it?

What implications does the current job growth trend have for Federal Reserve policy?

Discuss the relationship between wage growth and inflation as presented in the text.

Explain the significance of fiscal policy in relation to monetary policy as discussed in the text.

How do tax cuts and government borrowing relate to demand generation in the economy?

What are the potential effects of raising the minimum wage on employment and income levels?