Current location:style >>
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
style29People have gathered around
IntroductionWASHINGTON (AP) — Pay and benefits for America’s workers grew more quickly in the first three months ...
WASHINGTON (AP) — Pay and benefits for America’s workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve.
Compensation as measured by the government’s Employment Cost Index rose 1.2% in the January-March quarter, up from a 0.9% increase in the previous quarter, the Labor Department said Tuesday. Compared with the same quarter a year earlier, compensation growth was 4.2%, the same as the previous quarter.
The increase in wages and benefits is good for employees, to be sure, but could add to concerns at the Fed that inflation may remain too high in the coming months. The Fed is expected to keep its key short-term rate unchanged after its latest policy meeting concludes Wednesday.
Fed Chair Jerome Powell and other officials have recently backed away from signaling that the Fed will necessarily cut rates this year, after several months of higher-than-expected inflation readings. Big price increases for rents, car insurance and health care have kept inflation stubbornly above the Fed’s 2% inflation target.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Universal Unfoldings news portal”。http://europaisland.whetstonetavern.com/content-48d199824.html
Related articles
Lilly rides Mounjaro, Zepbound to better
styleRapidly climbing sales of the new obesity drug Zepbound and its counterpart for diabetes, Mounjaro, ...
【style】
Read moreRuud advances to Barcelona semis after beating Arnaldi in straight sets
styleBARCELONA, Spain (AP) — Casper Ruud beat Matteo Arnaldi in straight sets to advance to the semifinal ...
【style】
Read moreLacazette ready to play for Lyon against PSG after face injury
styleLYON, France (AP) — Lyon forward Alexandre Lacazette has recovered from a face injury and could play ...
【style】
Read more
Popular articles
- Kazakhstan arrests ex
- Jimmy Carr sparks speculation he may have become a father for the second time
- Ukraine, Israel aid bill on track as House pushes toward votes
- The iconic fantasy film that catapulted a 17
- Facebook and Instagram face European Union scrutiny over possible breaches of digital rulebook
- Nicola Peltz cements the end of 'feud' with 'beautiful' mother
Latest articles
Lilly rides Mounjaro, Zepbound to better
American Express profits jump 34%, helped by jump in new customers, higher spending
Jeezy BACKTRACKS on request for full custody of daughter Monaco, two, amid Jeannie Mai divorce
FedEx pledges $25 million over 5 years in NIL program for University of Memphis athletes
Mom shopping in Target stunned by small print on Clorox wipes
Man United player Garnacho apologizes for liking critical posts about Ten Hag
LINKS
- First Chinese cultural center in Gulf region starts trial run in Kuwait
- Labour refuses to commit to matching Rishi Sunak's defence spending pledge of 2.5% of GDP by 2030
- NFL to open academy in Australia to identify and develop young prospects
- When Danish police pulled a woman over, she locked herself in her car and refused to talk
- Married With Children's WILD behind
- Woman, 43, accused of murdering her disabled mother
- Olivia Dunne calls for boyfriend Paul Skenes to get his Pittsburgh Pirates MLB debut
- Woman, 43, accused of murdering her disabled mother
- Years after National Enquirer's Trump deal, the tabloid is limping badly
- Tenerife official tells Brits looking for all