It means interest rate hikes are having the intended effect. Tapering consumer demand and high labor costs are weighing on earnings.

The company posts a revenue dip and says the pay levels in the new labor agreement with the Teamsters are higher than it had planned.

You might’ve heard of the “wage-price spiral.” Does a similar phenomenon exist when it comes to corporate profits?

Profits fell for the second quarter in a row, partly due to Fed rate hikes. Whether it’s a good thing depends on your role in the economy.

Theoretically, yes.

Here’s a look at why American companies are making more money, and how they’re spending it.