New York (CNN Business) American paychecks just got a whole lot bigger. Paychecks grew by nearly 8% from a year ago, way more than the average 3.5% yearly increase Americans have been getting over the past year. That, in turn, could put pressure on businesses, particularly those that import foreign-made goods, to raise prices to offset the impact of currency fluctuations. The Fed is in no position to raise rates anytime soon. "If we had a V-shaped economic recovery, the Fed could then raise rates.

Source: CNN May 08, 2020 13:41 UTC