Real Wages Are Up

Wage increases have moderated, but they've only moderated down to about 4.5%. This is why the Fed will almost certainly increase interest rates by another quarter of a point when it meets at the end of July. Give us a mark on the Fed if you would. How they've been doing this with the incremental interest rate increases. What's going to happen in July and what kind of an impact are you looking for and what the Fed does or doesn't do? That's a great question.