This is the news we’ve all been waiting for: Wages are finally rising. And that means the economy is getting strong enough for the Federal Reserve to at least consider raising short-term interest rates to a normal level. The Bureau of Labor Statistics reported Thursday that the employment cost index rose 0.7% in the second quarter, the fastest growth since 2008. Wages and salaries increased 0.6% (the most in nearly six years), while benefit costs increased 1% (the most in three years). The rise in benefit costs was largely due to the costs of funding pensions and not providing health insurance. Health-insurance costs ... (full story)