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-0.0026976454077655 -0.0026976454077655 -0.000311866521129028 -0.00130983938874167 -0.00106034617183855 -0.00106034617183855 -0.00280679869016072 -0.000233899890846859
Stock impact report

The solution to America's affordability problem might be broken, too [CNN]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: CNN
The problem: That solution looks broken , too. The US job market has been stagnant in recent months, and paycheck growth has been falling steadily for more than three years. Affordability has remained issue No. 1 in poll after poll, despite more than a year of relatively normal inflation and over two years of wage growth outpacing price hikes. That's because Americans haven't yet adjusted to the price shock from a few years ago, when inflation surged to a four-decade high. Economists, business leaders and politicians have debated the best solution to make America's cost-of-living feel affordable again, including increasing health care and housing subsidies and reducing tariffs. But Powell, in laying out the reasons for the Fed's recent interest rate cuts, offered a much simpler solution: Just pay people more money. “We are going to need to have some years where real compensation is higher … for people to start feeling good about the affordability issue,” Powell said last week a Show less Read more
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