Price inflation is at a 40-year high — 8.5% year over year, according to the March consumer price index. Wages haven’t quite been keeping pace: Average hourly earnings were up 5.6% over the same period, per the Labor Department’s March jobs report.

Federal Reserve Chair Jerome Powell has expressed concern about the wages part of that equation. He’s said the labor market is tight to an “unhealthy” level, and that accelerating wage gains “wouldn’t be sustainable over too long of a period.” READ MORE