Inflation Measure Cited by Powell Is About to Register More Heat
- Projected gain in employment costs to almost match record
- Other data include fourth-quarter GDP, December spending
People walk through a shopping mall in New York, U.S.
Photographer: Spencer Platt/Getty Images
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A barrage of upcoming data on the U.S. economy, wage growth and prices is poised to turn up the temperature of an already-heated debate about the persistence of inflation.
The employment cost index, which Federal Reserve Chair Jerome Powell cited in December as a key reason for the central bank’s pivot to a more aggressive stance on inflation, is seen registering a fourth-quarter gain nearly on par with the record increase in the prior three months.