Swiss Economicblogs.org
Quarterly wage data (ECI) for Q4 pointed to modest increases with no apparent pick-up in wage inflation. Although the January FOMC statement was not so dovish, we continue to believe the Fed will remain on hold in March. Besides GDP data, today saw some other key data being published: the quarterly Employment Cost Index (ECI), admittedly the most reliable measure of wages and salaries. Following Wednesday’s less-dovish-than-hoped FOMC statement, prolonged uncertainty over inflation...
Read More »US wages & monetary policy: not-so-dovish FOMC statement in January
