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Podcast: THRIVE, a Paychex Business Podcast
Episode: Fed Talks Inflation and Uncertainty, Job Growth Moderate, OT Rule Appealed
Description: The chair of the Federal Reserve said that Americans should expect economic fluctuation and inflation while adjusting to the implementation of new policies, but the target of 2% is on track. Gene Marks comments on that while noting that the Paychex Small Business Employment Watch continues to show moderate job growth but stagnant hourly earnings growth. In a surprising turn, the new administration appealed a court’s decision on the Biden-era Overtime Rule, but Gene said that is a maneuver to secure the agency’s decision-making powers and not to hang onto the salary threshold.
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