evidence: Wages are rising, but can't keep up with cost of living — and could worsen inflation [...] We got some good news and some not-so-good news about the job market today. Employers are adding a lot of jobs, and wages are going up at a rapid pace. But those wage gains are not keeping pace with the high cost of living, and there's a danger that rising wages will make inflation even worse. NPR's Scott Horsley joins us with details on today's jobs report. Hey, Scott. [...] DETROW: The Fed's concerned that employers are going to pass these costs of higher wages along in higher prices. And that could make inflation, which is already at a 40-year high, even worse. That's why this week the Fed raised interest rates by half a percentage point in hopes of cooling off inflation. The Fed also telegraphed additional similar-sized rate hikes could be in store in June and July.