U.S. Treasury Secretary Scott Bessent said core inflation in the United States has fallen to 2.5%, while wages for the bottom 25% of workers rose 5.5% over the past year. He said the figures point to an improving labor market, with wage growth for lower-income workers running ahead of inflation. The remarks came as markets watch the direction of Federal Reserve policy, and real wage growth may help support consumer spending.
U.S. Treasury Secretary Scott Bessent said core inflation in the United States has dropped to 2.5%, while wages for the bottom 25% of workers rose 5.5% over the past year.
He said those numbers point to a better U.S. labor market. Simple as that. Wage growth for lower-income workers is running ahead of inflation. And the remarks landed as markets stay locked on the Federal Reserve's next policy moves, with real wage gains potentially giving consumer spending some support.
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