The Employment Cost Index—the Federal Reserve’s closely watched metric on wage growth—increased by 1.0% in the second quarter, the slowest since June 2021. … READ MORE >
household savings
How government payments during the pandemic improved household balance sheets
Consumers continued their pandemic-era rebalancing of household finances, shedding credit card debt and home equity lines of credit during the first quarter. … READ MORE >
How pandemic savings might have saved the day
The mix of savings, pent-up demand for services and what we think will be an increase in productivity-enhancing investments by businesses will provide a multiyear period of above-trend growth. … READ MORE >