This morning it was announced that the employment-cost index, the U.S. government's broadest measure of changes in compensation, and Alan Greenspan's favorite indicator, rose 1.1% in the second quarter.

A clear case for interest rate increases presented itself and the stock market lost about 200 points.

God knows what will happen if we report PI actual salaries!

Charlie

**************************************
Charles B. Hathaway, Ph.D., Director
Office of Grant Support
Albert Einstein College of Medicine
1300 Morris Park Avenue
Bronx, NY 10461
Phone: 718 430-3642     Fax: 718 430-8822
email: xxxxxx@aecom.yu.edu
http://www.aecom.yu.edu/ogs

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