The important labor market cost index, the US Employment Cost Index (ECI) fell in Q4 2022 to 1.0%, down from 1.2% in Q3.
Notice that ECI is falling as M2 Money growth falls.

Fed meeting coming on Wednesday!
The important labor market cost index, the US Employment Cost Index (ECI) fell in Q4 2022 to 1.0%, down from 1.2% in Q3.
Notice that ECI is falling as M2 Money growth falls.
Fed meeting coming on Wednesday!