My interest in all of this is narrow, on the grounds that I'm not an economist, banker, or treasurer. If I was, I'd concentrate on some very simple-minded ideas, such as:
1. Unproductive debt is always to be stringently minimised and discouraged.
2. The scale of any debts incurred should be within one's projected ability to pay them off within relatively short time frames.
3. Savers should be rewarded not punished.
4. No economic system will work for long without prizing and defending moral behaviour arising from a proven system of individual mores.
Many an untutored teenager would never dream of operating outside of guidelines like this, yet it seems that you can become a Baron, university professor, or top central banker for touting economic theories that seemingly ignore them.
All this is getting around to saying that I'm a simple-minded goldbug who imagines that excessive debt and laxity will destroy a currency regardless of whether deflation or inflation applies. However, I don't know when, so I'm trying to detect the imminence of any escalations in instability. I imagine that's a less lofty aim than yours.
Thanks, I read the article "With Fed's Inflation Target, Be Very Careful What You Wish For". I found that I had to Google "U6", and wonder how massaged it may or may not be.
I'm assuming that the recent disparity noted in the article between average hourly earnings and average weekly earnings can be explained in terms of the recent downturn in Average Weekly Hours of All Employees: Total Private. However I don't, at first glance, know what caused the anomaly in weekly hours.
I'm guessing your quote from the article concerning Dean Foods in 2011 reflected sadness for that majority whose incomes hadn't been boosted by central bank actions but whose costs were. If so, I found similar pathos in the following St Louis Fed graphs:
