Cut to Discount Rate Means Largest Hike in Comp Expenses for Postal Service

Almost since the day he took office, President Donald Trump has urged the Federal Reserve to cut interest rates. This year, the Fed has complied, trimming rates three times and reversing all of its rate increases for 2018. The move may be good for borrowers and the economy as a whole, but it has had a paradoxical effect on some federal agencies: Lower interest rates have triggered one of the largest increases in workers' compensation expenses for the U.S. Postal Service in more than a decade. The Postal Service released its fiscal 2019 10-K annual financial report last week and it shows ...