I dont think it would be smart not to give a standard step raise. Sure there might be recession/ rate hike related layoffs; which may give the company leverage in recruitment. However, the nature of the work combined with this new generation culture of fast money(crypto, scams, stealing, youtube, side hustles) fedex will accelerate the downward spiral of work quality if its cheap with its labor force. The really have no moral footing either, they have already skipped 2 years of step raises. Imagine the work decline with employees getting a 2% raise with 9% inflation... A 1 step increase is reasonable. Im suprised there hasnt been a online petition to prempt the decsion makers from playing the "economic challenges" game.