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How the Fed Interprets Job Satisfaction Surveys
Description
In this episode of The Federal Reserve Podcast with Fexingo, Lucas and Luna explore why the Federal Reserve is paying close attention to job satisfaction data. With a new survey showing that more than half of U.S. workers are 'truly satisfied' with their jobs—the highest level in decades—Lucas unpacks how the Fed uses this kind of sentiment data to gauge labor market tightness and wage pressure. They discuss the relationship between job satisfaction, quits rates, and wage growth, and consider why a satisfied workforce might complicate the Fed's inflation fight. Lucas also links the data to the surprisingly strong Core PCE reading of 3.4 percent and the flat Fed Funds rate of 3.63 percent. A must-listen for anyone following the Fed's path forward.