Current location:travel >>
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
travel83People 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.“Worldly Wave news portal”。http://cameroon.antjekoch.com/news-37b199776.html
Related articles
Auburn running back Brian Battie on ventilator after weekend shooting in Florida, coach says
travelAuburn running back Brian Battie has been hospitalized following a weekend shooting in Sarasota, Flo ...
【travel】
Read moreNingxia delicacies tempt int'l diners' palates
travel(Xinhua) 11:03, October 28, 2023YINCHUAN, Oct. 28 (Xinhua) -- Red wine produced from the Helan Mount ...
【travel】
Read more3rd Indonesia Shenmo Cup Int'l Abacus Mental Arithmetic Competition kicks off
travel(Xinhua) 10:18, January 22, 2024Contestants compete in the Third Indonesia "Shenmo Cup" Internationa ...
【travel】
Read more
Popular articles
Latest articles
Joe Rogan's 'brain
Street dance in China
Research Center for Archaeology of Yan Culture founded in Beijing
Research Center for Archaeology of Yan Culture founded in Beijing
Defending champion South Carolina to open season in Las Vegas against Michigan
Research Center for Archaeology of Yan Culture founded in Beijing
LINKS
- Cheng Lei China: Jailed Australian TV anchor jailed releases rare message
- Pressure grows on Angela Rayner to quit as Labour deputy leader over housing row police probe
- VOX POPULI: Leadership skills of the past are missing in the politics of today
- VOX POPULI: Nikkei index soars but real economy still feels sluggish
- Shi Fu Miz 2023: Hong Kong music & art festival returns to Cheung Chau farm, expands to 3 days
- China is drilling some of the deepest holes in hunt for natural resources
- Russia election: Arrests for vandalism as ballot boxes targeted in Putin vote
- Hong Kong lawmaker's petition opposing Gay Games is prejudiced, activist says
- Hainan island: Known as 'China's Hawaii,' the vacation hotspot is also a strategic military base
- VOX POPULI: Rooting for the Sendai killifish that survived the 2011 tsunami