If that takes effect, it’d be significantly lower than the 5.2% pay raiseawarded in Januaryof this year and the 4.6% in2023but on par with what government workers received pre-pandemic and with projections thatinflation will dropto less than 2% next year. “It illustrates ...
The raises -- an additional $10,000 a year -- were set to go into effect because a pay freeze for top federal officials, including Vice President Mike Pence and cabinet secretaries, was reportedly due to expire Saturday, January 5. The 115th Congress had included an extension of the pay...
Pay Raise for Federal Judges, Optional Courtroom Cameras Approved by Senate Judiciary.Reports on the approval of a legislation that would increase the salary of federal judges and allow television and cameras in federal courtrooms in the U.S. as of May 2003. Percentage of increase in the salary...
Stephen Barr
The infrastructure law also authorized agencies to increase the base salary of federal wildland firefighters by $20,000 per year or 50% of their current base salary, whichever is lower, through 2023. The firefighters will receive back pay for the raises, dating to October 2021....
At the same time, Powell said the job market remains strong, which means businesses have to raise pay to keep workers — raises that are often passed on to consumers in the form of higher prices. This week, the government reported that companies posted more job openings in September than in...
The FOMC increased the target fed funds rate to a range of 5.25% and 5.5% in July 2023. It maintained this range during subsequent meetings and confirmed the range in its June 2024 meeting.10 On Sept. 18, 2024, the committee announced that it would cut its target range by half a perce...
Posted in Easy money, Federal Reserve, Inflation, Joe Biden, Monetary Policy, tagged Easy money, Federal Reserve, Inflation, Joe Biden, Monetary Policy on July 16, 2023| 15 Comments » I have an old-fashioned belief that it’s important to be truthful when analyzing public policy. I cri...
2022-2023: As the economy rebounded in the aftermath of the pandemic, the Fed was forced to aggressively raise interest rates starting in March 2022 as inflation hit a 40-year high. In July 2023, the Fed made its last rate hike of the cycle to a range of 5.25% to 5.5%....