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Odds of September Fed Liftoff Climb After Payrolls Beat Forecasts

Federal Reserve Chair Janet Yellen On Economic Outlook

Federal Reserve Chair Janet Yellen On Economic Outlook

Photographer: Scott Eisen/Bloomberg
Updated on

The odds of a Federal Reserve rate rise in September improved after the best jobs report in five months eased concerns that the U.S. economy is struggling to regain momentum after a first-quarter contraction.

“I would characterize this as a very strong result,” said Carl Tannenbaum, chief economist at Chicago-based Northern Trust Corp. “It certainly brings a September rate increase into much clearer focus.”