🚨 Situational awareness: Tomorrow morning, all eyes on will be on the normally-obscure Employment Cost Index, an indicator of wage inflation trends. Last month, Federal Reserve chair Jerome Powell flagged its surge as a reason for the central bank's newfound hawkishness. 🏦🪶
- In this week's newsletter: We look at the less-predictable economic ripples of the pandemic, including on ethical sourcing of supplies (way down!), trade deficits (way up!), and Buffalo chicken wings (more expensive!). 🍗🍗
... all in 1,413 words, a 5-minute read.