Economy

The Bureau of Labor Statistics reported that civilian worker compensation costs increased 0.9% in Q2 2026, edging past the 0.8% economist consensus, with private-industry wages and salaries accelerating from 0.7% to 0.9% quarter-over-quarter. Despite the nominal gains, inflation-adjusted private-industry wages and salaries declined 0.4% over the year through June, meaning the 3.1% nominal annual wage growth ran below CPI-U inflation. Benefit costs, particularly private-industry health benefits at 6.0% annual growth, outpaced wage growth across all worker categories tracked in the release.

Federal Reserve Chairman Kevin Warsh raised the possibility of reducing the FOMC's eight annual meetings at the July 28-29 gathering, according to a New York Times report citing four anonymous sources, but no formal proposal, vote, or target cadence has appeared in any official record. The existing public calendar still lists eight meetings for 2027, and federal statute requires only four per year, leaving the procedure for any change legally unsettled. Readers will learn what the official record does and does not confirm, how long the eight-meeting schedule has been in place, and why the reported consideration remains preliminary.