Latest / Wages and Prices with Fexingo: Cost of Living, Pay Raises, and Workers' Purchasing Power
How Your Raise Is Finally Beating Credit Card Debt Payments
In this episode of Wages and Prices with Fexingo, Lucas and Luna break down the latest wage growth data versus the interest payments on credit card debt. With average hourly earnings hitting $37.50 and the Federal Reserve holding rates steady under new chair Kevin Warsh, the cost of carrying a balance is finally shrinking in real terms. Lucas walks through the numbers: wage growth of 3.2% year-over-year versus credit card APRs that have plateaued around 22.5% after peaking near 24%. Luna challenges whether this relief is evenly distributed, pointing out that minimum payments and late fees…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.