Is it just me, or does that sound more like upward sticky? For instance, gas prices are upward sticky (for the most part). While the price of gas may fall after a large spike in price, they will not fall back down to their original levels.
Think of it this way; immediately after 9/11, prices spiked from under $1/gallon to $1.20+ a gallon. While prices came back down, they never returned to the original sub $1/gallon price. After hurricane Katrina, prices spiked again. When was the last time you saw gas under $2/gallon? You could argue that this is due to supply, but only to a certain extent.
In the 1980’s, we saw insane amounts of inflation (technical term =P). Prices soared, and thus, wages soared. Today, while inflation (and thus rates) are very low, wages will not return to previous levels. They are “stuck” at higher levels.
You can also replace wages and gas with Medicare. Try telling grandma that we should reduce her medicare benefit, because it will help the country as a whole.