Summary List Placement
Rising wages sparked some concerns that higher pay for workers will translate to higher prices.
Reality isn’t so clear-cut. A handful of other factors are playing a much larger role in lifting prices across the US.
The Federal Reserve and the Biden administration argue the overshoot is temporary and linked to the economic reopening. The thesis has, so far, held up. The latest inflation data shows price growth easing in July. And products that were lifting inflation the most saw price growth come to a standstill.
All the while, businesses continued to lift wages as the details ⇒
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