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Fed Honchos Pining for Wage Gains Got Nice Pay Raises Themselves

From bloomberg.com

Federal Reserve officials spent 2015 pining for a pickup in U.S. wage gains. For the heads of the district banks, anecdotal evidence existed in their own paychecks. Fed presidents saw a 4 percent average salary increase last year, following a 6.6 percent bump in 2014, according to the central bank’s annual report released Tuesday. Those gains follow a pay freeze for reserve bank officers in 2011, 2012 and 2013, and outpaced national hourly wage earners’ gains, which grew 2.6 percent in the year through December 2015. New York Fed President William Dudley made the most among the regional presidents, pulling in ... (full story)

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