It is time to resume watching inflation.
For years, if you wanted to guess the path of interest rates, you watched hiring indicators. Unsatisfied with the unemployment rate, the U.S. Federal Reserve added numerous other labour-related gauges to its dashboard, including participation numbers and the pace at which Americans were quitting their jobs. Prices were lifeless, so the Fed had space to concentrate exclusively on the other part of its mandate: jobs.
Continue reading at Canadian Business ...