In the latter half of the 20th century, as the computer revolution took hold, demand for college-educated workers began to rise, and hence their relative wage rates rose as well. As one would expect, there has been an increase in the number of people with a college degree.
We need to conduct monetary policy with finesse so that we can make the most of our advantage as an early starter and not miss the right time to act. Rate hikes may increase difficulties for vulnerable groups in the short term, but if we get the timing wrong and inflation broadens further, the damage would be even greater.