Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Necessary But Not Sufficient
Good news for a Fed that was (probably) going to cut anyway: Jerome Powell's favorite gauge of US employee compensation rose less than expected in Q3, according to a marquee BLS release on Thursday.
The Employment Cost Index printed 0.8% on the headline (0.7855% unrounded), softer than the 0.9% consensus expected.
As the figure below shows, the Q3 readout counted as another "coolest since inflation accelerated in earnest" print for a key input in the Fed's decision calculus. The last time this
