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‘Sizzling’ US Jobs Data Make Case for Bigger Fed Rate Increases

  • July payroll adds beat estimates; jobless rate at 50-year low
  • Labor-market strength can feed into inflation: KPMG’s Swonk
Bloomberg business news
Jobs Report Makes Notion of Fed at Neutral ‘Comical’: El-Erian
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A blowout US jobs report for July means the Federal Reserve will probably need to keep going with the most aggressive rate hikes in decades to curb demand and inflation, according to economists. 

US employers added 528,000 jobs last month, more than all estimates, the unemployment rate fell to a five-decade low of 3.5%, and wage growth accelerated, the Labor Department said.