Editorial Board

Plenty of Jobs, Not Enough Pay

The Fed need not be overly concerned if U.S. workers start getting raises.

You have to pay them if you want them to buy.

Photographer: Joe Raedle/Getty Images

Encouraging as the U.S. job market may be, its strong recovery presents a challenge for the Federal Reserve: If companies start paying workers more, at what point should the Fed begin increasing interest rates to guard against inflation?

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