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Tougher Pay Increases Pressure Shifts Rates, Analysts Say
AP News reports a tougher stance on wage increases as the prime rate fell to 5 percent, with banks cutting prime lending amid subdued loan demand. The piece notes declining inflation pressures, rising consumer credit, and wage negotiations across manufacturing sectors, including steel and autos, amid the Penn Central legacy and IRS monitoring of price increases.
MENTIONED IN THIS ARTICLE
John Henry
New York
Labor
Sharp
Ofi
Island Steel
U.S. Steel
Kent