JPMorgan's Feroli 'Pretty Confident' on March Fed Rate Hike

The transcript discusses the strength of the labor market and its impact on the Federal Reserve's plan to raise interest rates. It explores the potential resurgence of the Phillips curve, noting that wage data can be volatile. The Employment Cost Index shows signs of wage growth, although weather conditions may have distorted recent figures. Labor force participation remains stable, which is seen as positive against demographic trends. The Fed is expected to raise rates, with a March hike likely, and possibly more throughout the year.

What does the speaker suggest about the relationship between labor force participation and job growth?

What is the expected outcome of the Fed's rate hike according to the speaker?