October Garnered ÷Goldilocks Jobs Report: Krueger

The transcript discusses the ongoing recovery of the economy, highlighting that while there is some wage growth, it is modest and not yet causing inflation. The Federal Reserve is expected to maintain its current course. The lack of significant wage inflation is partly attributed to the stagnant minimum wage, which reduces employers' bargaining power pressure. The Employment Cost Index shows a slight increase, indicating a gradual pickup in wage growth.

Why is there a lack of wage inflation currently, according to the speaker?

What is the significance of the Employment Cost Index mentioned in the text?