Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, announced in testimony before the Senate Banking Committee that the Federal Reserve will not rush to raise interest rates.
Despite recent economic growth, one piece of the labor market puzzle doesn’t fit: wages.
While the rest of the labor market recovers, January’s growth in wages from last year sits at a meager 2.2 percent.
Wage growth is one of the numbers Yellen must review as she considers when the U.S. economy can stomach a hike in interest rates.
CNN Money’s Christine Romans asks, “Will a tightening labor market mean wages will start to rise more briskly?”
Did the disappointing wage growth contribute to the Fed's decision? Comment below or tweet @MNetBridget
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