• In this photo taken Monday, July 27, 2015, Bob Donegan, president of Ivar’s Seafood Restaurants, stands below a Native American artwork in one of the company's restaurants in Seattle. After Seattle's new minimum wage law took effect last April 1, Ivar’s announced that it was jacking up its prices by about 21 percent, eliminating tipping as a routine procedure, and immediately paying all its hourly workers a $15 per hour. They began the new pay rate three years earlier than the law required. (AP Photo/Elaine Thompson)

    Higher wages a surprising success for Seattle restaurant

    SEATTLE (AP) — Menu prices are up 21 percent and you don’t have to tip at Ivar’s Salmon House on Seattle’s Lake Union after the restaurant decided to institute the city’s $15-an-hour minimum wage two years ahead of schedule.

  • In this July 16, 2015, file photo, Federal Reserve Chair Janet Yellen prepares to testify before the Senate Banking Committee on Capitol Hill in Washington. Federal Reserve policymakers meet Wednesday, July 29, 2015, to set interest rates and release a statement. (AP Photo/Susan Walsh, File)

    Fed holds steady on rates, seeks further economic gains

    WASHINGTON (AP) — The Federal Reserve appears on track to raise interest rates later this year but signaled Wednesday that it wants to see further economic gains and higher inflation before doing so.