``... any doubt that the Federal Reserve was going to start increasing interest rates later this month has been erased... but there are two problems. The first is that the Fed is about to start raising rates even though wages aren't... the second is that the Fed wants unemployment to go below its natural rate, but not too much. The idea is that this would make inflation, which is far, far below its 2 percent target, start rising towards it without going over it. But how can you do the second if you're also doing the first?

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