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Don’t expect a $15 federal minimum wage: Goldman Sachs

The path to a $15 an hour federal minimum wage is laden with mountains to climb, so earners shouldn’t expect it to happen for some time, if at all in their lifetimes.

“We think the odds of an increase to $15 are low,” said Goldman Sachs chief economist Jan Hatzius.

The existing federal minimum wage is $7.25 an hour. It hasn’t been raised since 2009 despite across the board inflation in things like rent payments and medical costs. The impact of inflation on minimum wage earnings could partially…

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