Jobs
Blockbuster Jobs Report to Push Fed to Hike and Keep Rates High
- Persistently hot jobs could put higher rate peak on table
- ‘It’s FOMC 1-Markets 0’ after payrolls report, Costerg says
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January’s blockbuster US jobs report is likely to strengthen the Federal Reserve’s determination to raise interest rates above 5% and keep them high throughout the year — an outcome investors remain skeptical of.
Fed Chair Jerome Powell on Wednesday said policymakers expect to deliver a “couple” more interest-rate increases before putting their aggressive tightening campaign on hold, though he didn’t push back strongly against markets pricing just one more hike and cuts by the end of the year.