Consumer prices are rising quickly in the United States. But workers aren’t seeing big pay hikes despite becoming more productive. Federal Reserve Chairman Kevin Warsh delivered an update on the U.S. economy to lawmakers on Capitol Hill in July. His comments on AI and economic growth foreshadow how workers may fare moving forward. CNBC’s Matt Peterson and Jeff Cox report.
Credits:
Reporters: Matt Peterson, Jeff Cox
Produced and Edited by: Carlos Waters
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images
Chapters:
00:48 Wages
01:47 Economic growth
03:28 Interest rates
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Why Workers Stopped Getting Big Raises
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