Increasing inflation by a wage price spiral... will you receive these wage increases?

Biden CAVES to rail unions to avoid catastrophic strike and hands out immediate $11K bonus and a 24% wage increase - amid fears industrial action would have cost economy $2B per day

• Biden said on Thursday that a 'tentative' deal has been reached between US freight rail companies and unions 
• It averts a potentially devastating strike costing $2B per day before the pivotal midterm elections 
• Workers will get a salary increase of 24% through 2024 and an immediate average lump sum of $11,000 
• Biden hailed the deal for avoiding a shutdown and as a win for all sides

By RACHAEL BUNYAN FOR MAILONLINE and KEITH GRIFFITH FOR DAILYMAIL.COM and AP

PUBLISHED: 05:43 EDT, 15 September 2022 | UPDATED: 08:26 EDT, 15 September 2022