Tomorrow's ECI Could Be Bad News

Jul 28, 2022 1 min read
Tomorrow's ECI Could Be Bad News

Q2's Employment Cost Index (ECI) comes out tomorrow morning. In his press conference yesterday, Fed Chair Jerome Powell assessed inflationary pressures in the labor market. He said:

"There's some evidence that wages, if you look at average hourly earnings [AHE], they appear to be moderating. Not so yet from the other wage measures. And we'll be getting the employment compensation index measurement I think on Friday. And that's a very important one because it adjusts for composition."

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