I'm Colin Sheedy. I work front of house at Burger Stand, Lawrence. I've been a tip worker for about five years.So I think the prospect of having to pay less in taxes is enticing. The new no tax on tips provision in the One big Beautiful bill allows tipped employees to deduct up to $25,000 from their federal tax filing each year. The program began in 2025 and is in place through 2028.This provision will increase average take home pay for tipped workers by $1,300 a year. But I think this is something that wil ...

The Federal Reserve expects gross domestic product to grow quickly in 2026, faster than what they thought just months ago. Some of that may be AI, just also, I think productivity has just been almost structurally higher for several years now. We have had a boost in productivity growth. And he was pointing out that that boost in productivity had occurred even before AI was a big thing on the scene.Economists believe AI could dramatically change how Americans work. In terms of policy makers concerns, employme ...

Inflation & Monetary Policy - Namibia's central bank anticipates potentially limited benefits from South Africa's reduced inflation target [1] - The central bank's concern stems from its ability to control domestic wage increases and utility costs, specifically water and electricity prices [1]

Compensation Structure - McDonald's new employee starting pay is $13 per hour [1] - After 3 years, McDonald's employee pay increases to $17 per hour [1] - McDonald's general manager earns $27 per hour [1] Additional Benefits - McDonald's offers performance bonuses in addition to base pay [1] - McDonald's provides overtime pay at 150% (one and a half times) of the base rate [1]

Economic Outlook & Inflation - The risk is that real estate prices are going down, with residential real estate constituting a significant portion of the CPI (one-third) and core CPI (40%) [1] - The employment report is crucial for determining whether the Fed will rekindle rate cuts at the September meeting [3] - Real work-based income, adjusted for inflation, is contracting, posing a challenge to the labor market [4] - Agricultural prices are rising globally, linked to climate change, while goods prices in general, including furniture and appliances, are expected to rise in the coming months [6][7] - 60% of the CPI is in services, which are disinflating, creating a tug-of-war with rising goods prices [8] Monetary Policy & Tariffs - The Fed is unlikely to provide clear guidance and will closely monitor the labor market to determine interest rate adjustments [5] - The 90-day pause on reciprocal tariffs deadline is a pivotal event, with the market watching for its impact on the US economy [2] - The extent to which the service sector will offset the goods inflation from tariffs is a key question [7] Labor Market - Cracks emerging in the labor market and a loosening up will make the Fed feel more relaxed about goods inflation if it doesn't feed into wages [3] - The employment number, including headline figures, revisions, unemployment rate, and participation rate, is critical [4]