That left Fed officials bracing for the latest batch of revised CPI data, released Friday morning, which some feared could take away the inflation progress they observed last year.
Instead, officials got some good news: December’s monthly inflation wasn’t as bad as initially reported, according to newly revised figures from the BLS.
And for other months last year, initial data was either unchanged or revised by no more than one-tenth of a percentage point up or down.
Recent data revisions have complicated the Fed’s monetary policy decisionsFed officials have been complaining about data revisions to key economic reports lately.
But if revised data indicates that job gains didn’t actually slow that much in a month, cutting rates could move the inflation rate further from their target.
Persons:
Christopher Waller, Waller, Friday’s, Kieran Clancy, ” Clancy, “, ” “, ”
Organizations:
New, New York CNN, Federal Reserve, Bureau of Labor Statistics, BLS, ”, Pantheon
Locations:
New York