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Treasury Secretary Janet Yellen concluded her trip to China on Sunday with an appeal for both nations to find 'a way to live together.' 'We believe that the world is big enough for both of our countries to thrive,' she said. We believe that the world is big enough for both of our countries to thrive," she said, according to a transcript of her speech on Sunday. John Kerry, the U.S. special envoy for climate change, is slated for a visit to China later this month, per Bloomberg. Despite Yellen's optimism, at least one analyst feels that relations between the US and China remain tenuous.
Persons: Janet Yellen, Yellen, Biden, Yellen's, Antony Blinken's, Xi Jinping, John Kerry, Vishnu Varathan Organizations: Service, US, of Commerce, Eurasia Group, Biden, U.S, Bloomberg, Mizuho Bank's Locations: China, Wall, Silicon, Mizuho Bank's Asia, Oceania
Growth in US wages and salaries slowed to 1% in the fourth quarter of 2022, down from 1.3% in the previous quarter. As inflation remains high, the Fed may continue hiking interest rates — meaning wage growth could continue to trend slower. Wages and salaries for civilians rose 1% in the fourth quarter from a quarter ago, the Bureau of Labor Statistics said in a Tuesday report. In real terms though, wages and salaries actually declined by 1.2% for the whole of 2022, thanks to high inflation rates. But it doesn't mean the Fed's going to walk away from hiking rates because inflation remains elevated.
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