Surveillance: BOJ Jolt with BNY Mellon's Yu
Bloomberg Surveillance
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The Importance of the ECI for Wages
Michael McKee: We can get comfortable with the goods disinflation and we can see it. But these other services are really what I think is worth watching for where the improvement could come or what might re-accelerate because of the low unemployment rate. The ECI, the Employment Cost Index came in at 1% for the second quarter. It was down from 1.2% personal spendingComing in stronger than expected at 0.5% personal income coming in softer.
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