There are conflicting views on this question.Historically, high unemployment and high inflation have gone hand-in-hand. Raising the minimum wage might spur more spending and stimulate the economy. But some experts think if the minimum wage gets too high, it could have a deadly effect on employment. Former McDonald’s CEO Ed Rensi says a higher minimum wage will cost jobs and lead to the closing of many small businesses. In theory, raising minimum wage forces businesses to raise prices, which spurs inflation. But since wages are only part of the product costs that consumers pay, it’s not that simple. In 2014, fast-food workers in the U.S. wanted a minimum wage of $15 an hour, or almost double what they were currently earning. At that rate, a burger flipper at McDonald’s would have earned $30,000 a year. An excessively high minimum wage will obviously place inflationary pressure on the economy. But increasing it to keep pace with inflation will have only a minimal effect.