[Fed members] have to pay more attention to wages. And I'm hoping that Ben Bernanke will recognize this.
The last report we got -- the Fed comes and testifies before both houses twice a year and they present a report, the Humphrey-Hawkins report. And the last time, I was going through it as we were getting ready for the hearing. There were 13 sections about this part of the economy, that part of the economy.
In 12 of the sections, they talked about the economy in real terms, i.e. adjusted for inflation. They talked about the real increase in this and the real increase in that. In every single case, they adjusted for inflation.
Then they got to wages, and wages were not adjusted for inflation. They talked about nominal, i.e. they made wages look bigger than they are.
I think the Fed could show a little more social sensitivity to this. I'm hoping that they will. I have no -- I mean, I think Mr. Bernanke has been reasonable.