Did Pay Beat Inflation in August 2026? Hourly Wages Fell in Real Terms

Clock, pay envelope, and price tag illustrating hourly versus weekly real earnings

Short answer: No, not on an hourly basis. The U.S. Bureau of Labor Statistics (BLS) reported that real average hourly earnings for private-sector employees fell 0.1% from July to August 2026, seasonally adjusted. Average hourly pay rose 0.3%, but the CPI-U rose 0.4%. Real average weekly earnings nevertheless rose 0.2% because the average workweek increased … Read more

Treasury Buybacks Aren’t QE: Where the Money Comes From and What the $4B Move Really Does

Treasury Buybacks Aren’t QE: Where the Money Comes From and What the $4B Move Really Does

The U.S. Treasury is buying back more of its own long-term bonds. That immediately raises an obvious question: If the government is buying Treasury bonds, isn’t that basically quantitative easing? No. The transactions may look similar from a distance, but the mechanics are fundamentally different. A Treasury buyback is primarily a debt-management transaction. The Treasury … Read more