Current location:Stellar Scope news portal > entertainment
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Stellar Scope news portal2024-05-22 01:17:30【entertainment】1People 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.
Address of this article:http://norfolkisland.quotesbonanza.com/article-82e699286.html
Very good!(1)
Related articles
- Scottie Scheffler's Louisville court date postponed after arrest during PGA Championship
- China issues action plan on promoting digital commerce
- Thiago Silva, 39, breaks down in tears as he announces he is leaving Chelsea
- LIV Golf star Kevin Na unleashes foul
- What a blast to work at NASA. Space agency is sky
- Binance founder Changpeng Zhao faces sentencing; US seeks 3
- AI data training supported by domestic chips, supercomputers
- Binance founder Changpeng Zhao faces sentencing; US seeks 3
- Lynn Williams breaks NWSL goal
- Jeff Bridges, 73, returning for Tron: Ares nearly 42 YEARS after original Disney sci
Popular articles
Recommended
Trump film shocks Cannes as former US President is depicted 'raping' his then
Colleges grapple to clear out encampments of pro
Chiselled ex
Death of Suzanne Morphew, reported missing on Mother's Day 2020, ruled a homicide
Liverpool confirms Arne Slot as Jurgen Klopp's replacement
Sergei Bobrovsky makes 31 saves, Panthers beat Lightning 6
Sergei Bobrovsky makes 31 saves, Panthers beat Lightning 6
ICJ will rule on Nicaragua's ask for halt on German weapons sales to Israel
Links
- Chennai Super Kings end 5
- I did everything right but still almost died on a bushwalk. Here's how I survived
- Bangladesh wins toss, puts Zimbabwe in to bat 1st in 2nd T20
- How top scientists think we'll finally hear from aliens
- Iran's hardliners employ female 'hijab enforcers' to spy on bare
- Oneil Cruz hits 2
- Spice Girl Mel C is surrounded by eager fans as she lands at Sydney Airport amid Australian DJ tour
- Driver dies after crashing into White House perimeter gate, Secret Service says
- Migraine drug could be offered to facial flush sufferers after success in trial
- Will Prince Harry get to see his busy father, King Charles, when he visits the UK?