Workers

NPR - Americans' wages, on average, have not kept pace with rising prices. The Labor Department says average wages have increased by only 3.4% over the last year. NPR’s Scott Horsley says this is an unfortunate turn of events because, for most of the last three years, workers saw real improvement in their buying power because wages were rising faster than prices. The Federal Reserve typically addresses inflation by raising interest rates or keeping them high. But Trump has been demanding lower interest rates, which presents a challenge for new Fed Chairman Kevin Warsh as he prepares for his first rate-setting meeting next week. Horsley says he believes interest rates will likely remain elevated for an extended period.