Inflation Is Accelerating Everywhere You Look
As the evidence keeps pouring in that the U.S. is still mired in an inflationary economy, the possibility that the Federal Reserve will be forced to increase interest rates can no longer be ignored.
Compensation costs for public and private sector employers climbed 1.2 percent in the first quarter, the Bureau of Labor Statistics reported Tuesday. That’s an acceleration from the prior quarter’s 2023 pace of 0.9 percent and the largest increase since the second quarter of 2022.
If we annualize the first quarter increase, compensation costs rose at a pace of nearly 4.8 percent. That is more than double the 2.2 percent average annualized pace in the quarters in the decade before the pandemic. By most
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