Turns out it's not what you know, but when you know it, economy-wise.

From American public media, this is Marketplace.

In Los Angeles, I'm Kyle Rizdahl. It is Monday. Today, this one is the 8th of December. Good as it always is to have you along, everybody.

We're going to talk in a little bit about the Federal Reserve and what data it's going to be looking at tomorrow and Wednesday as it decides what's to do with interest rates and why, in fact, it is meeting without

the latest data. But we're going to start with the last best information the central bank is going to

have to put into its models. The October count of job openings and layoffs, that'll be along for us

tomorrow. Marketplace of Nova Safo gets us going today. Here's what we know.

Inflation has been stubbornly hanging around 2.8% for months.

That's above the Federal Reserve's 2% target.

Meanwhile, key areas of the labor market are showing signs of weakness, says Elise Gould at the Economic Policy Institute.

So if you look at, let's say,

the black unemployment rate, that's been rising pretty steadily over the last few months.

Young workers, their unemployment rate has been rising over the last year, almost two years.

She says that can indicate things to come for the broader labor market. For the October

report on job openings due out tomorrow, Gould will look closely at the

rate of new hires, which has been falling. The hires rate is about where we were in the aftermath of

the Great Recession. So think 2013, 2014, not a very strong economy. But as we know, the labor market

isn't the Federal Reserve's only concern. It also works to keep prices stable.

And on that front, Adita Babe of BOVA Global Research says,

the Fed may soon have something new to worry about.

And there's a wonky economic term for it, reflation.

In reflation, you have more money, and the risk is that everybody else has more money as well,

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