SYDNEY, Australia—Assistant Minister to the Prime Minister, Patrick Gorman, said it was “disappointing” that the individual who leaked an exchange between Labor MPs and the Reserve Bank of Australia (RBA) Governor Philip Lowe, saying that they were trying to damage the government. “There’s plenty of ways to have a fight in Parliament. But breaching the…
Opposing Advice From Australia’s RBA Governor ‘Deliberately’ Leaked to Damage Government: Minister
Sky-High Inflation Is the Price of ‘Too Much Stimulus’: Obama-Era Economic Adviser
Steven Rattner, who served as an adviser to the Treasury Secretary under the Obama administration, told CNBC in a recent interview that “too much stimulus” by the government and the Federal Reserve is to blame for soaring inflation. Rattner, who made the remarks during a Sept. 14 broadcast of MSNBC’s “Morning Joe” program, said that…
Apple to Hike Wages Amid Tight Labor Market, Inflationary Pressures
May 26, 2022
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Apple has announced plans to raise salaries for U.S. workers by at least 10 percent in a tight labor market that’s pushing companies to boost wages to attract and retain workers who face growing cost-of-living pressures from high inflation. The tech giant said in a statement that it is expanding its compensation budget, hiking the…
70 Percent of Companies Saw Wages Surge in Q1 of 2022: NABE Survey
April 25, 2022
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A record number of American companies had to pay higher wages during the first quarter of 2022 according to a survey conducted April 4–12 by the National Association of Business Economics (NABE). Out of the 84 NABE members who took part in the April survey, 70 percent said that wages rose during the first quarter,…
Hourly Earnings Rise Above Expectations, Stirring Wage-Price Spiral Inflation Fears
Wages among hourly workers in the United States rose above expectations in January, putting economists on alert for the stirrings of a possible wage-price spiral as concerns about the persistence of underlying inflationary pressures shift from supply-side bottlenecks to worker demands for higher pay. Average hourly earnings of all private-sector employees rose by 23 cents…
UK Central Bank Chief Urges People Not to Ask for Raises to Fight Inflation
February 4, 2022
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The Bank of England governor has recommended workers not to demand pay raises as the country battles decades-high inflation, and wage increases as such could result in a wage-price spiral that will end up hurting the economy even more. “I’m not saying nobody gets a pay rise, don’t get me wrong, but I think, what…
Americans’ Near-Term Inflation Expectations Stuck at Record High
January 10, 2022
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Americans’ expectations for what inflation will be one year from now remained stuck at a record high for the second month in a row in December, according to a survey from the New York Federal Reserve, which also showed households anticipating a historic boost in earnings. Consumers’ expectations for what inflation will be at the…
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