Macro Monday: Inflation Data Back In Focus

The Macro Institute's Weekly Economic Primer

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The Macro Institute
November 11, 2024

There is quite a bit of interesting data coming out this week, but most people will likely be focused on the inflation releases for CPI and PPI. Looser labor markets argue for an ongoing slowdown in wage inflation which has historically been very tightly correlated with core inflation. In essence, this data should provide the Fed with some dovish data to point to at their next meeting. We will also get the quarterly report from the Federal Survey of Senior Loan Officers, which will shed some light on the behavior of bank lending. Retail Sales and Industrial Production are also on the docket, but we will be keenly focused on the Empire Fed Index on Friday as it is the first regional PMI for the month of November.

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