Current location:politics >>
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
politics65279People 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.“Stellar Sphere news portal”。http://chile.downmusic.org/content-82b599352.html
Related articles
Encino out of Kentucky Derby, Epic Ride joins the 20
politicsLOUISVILLE, Ky. (AP) — Encino won’t run in the Kentucky Derby this weekend, trainer Brad Cox said Tu ...
【politics】
Read moreLeaders highlight goals, tasks in talks
politicsBy Mo Jingxi (China Daily) 08:23, March 07, 2024Li Qiang, a member of the Standing Committee of the ...
【politics】
Read moreXi inspects city of Laibin in south China's Guangxi
politics(Xinhua) 09:19, December 15, 2023Xi Jinping, general secretary of the Communist Party of China Centr ...
【politics】
Read more
Popular articles
- Tunisian opposition wants political prisoners freed before taking part in presidential election
- Zhejiang urged to boost modernization
- 70 years on, success story of people's congresses continues in China
- Proposed agenda unveiled for annual session of China's top political advisory body
- Miriam: Death Of A Reality Star review
- Disputed penalty gives Man U draw at Bournemouth as CL qualification slips further away
Latest articles
What's causing the catastrophic rainfall in Kenya?
Top legislature to review bills on patriotic education, safeguarding national secrets
President sets key targets for financial sector
A Michigan man and his dog are rescued from an inland lake's icy waters
A Yellowstone trip that ended with a man being arrested for kicking a bison
How Take That's Gary Barlow, Mark Owen and Howard Donald have evolved from baby
LINKS
- DPP manipulates tourism for political purposes, harms cross
- China's 1st domestically made polar icebreaker Xuelong 2 visits HKSAR
- China eyes digital, green economy cooperation potential in Africa: MOC
- Xi Stresses High
- Xi extends condolences over death of Namibia's Geingob
- Xi Focus: Xi Stresses Enhancing Guarantee Ability of Land Element for High
- Switzerland to facilitate Chinese travel: Foreign Minister
- Uganda says anti
- Xi's visit before Spring Festival touches hearts
- China unveils ambitious plans to expand its space station