The Employment Policies Institute (EPI) recently released a new report revealing that a majority of economists across the country are against raising the federal minimum wage to $15 an hour. The report surveyed some 160 economists with a full 75 percent believing that the change would have a negative effect on youth employment levels while 81 percent of the survey respondents say such a hike would harm small businesses with less than 50 employees the most. Additionally, eliminating the federal tip credit was frowned upon by another 73% of those surveyed. And finally, as inflation reaches its highest levels in over forty years, a clear majority (58 percent) argue that a $15 minimum wage would contribute further to rising inflation levels. And speaking of inflation, a survey of restaurant operators conducted by the Alignable Research Center found that 60% see inflation as an even bigger business challenge than the pandemic and 72% of the respondents are concerned they may end up closing their business if inflation doesn’t level off soon! In a similar vein, the consumer isn’t any more optimistic about inflation. The University of Michigan monthly Survey of Consumers found consumer sentiment for May fell by 6.1 points to 59.1, its lowest level in over a decade.