Economics
Pressure Rises for a June Rate Hike
El-Erian: Wage Growth Is Just a Matter of Time
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A stronger-than-forecast U.S. payrolls report strengthens the argument for the Federal Reserve to begin raising interest rates in June, after the jobless rate reached the range that officials view as full employment.
The jobs report looks “unambiguously strong” said Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC. “June is still the base case” for rates to rise, he said. “The probability of September is falling rapidly.”