Fed Will Lean Toward Another Rate Hike After Blowout Payrolls
- FOMC will have option to move again in November or December
- Fed will be concerned about a reacceleration in the economy
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A hotter-than-expected US jobs report will likely nudge the Federal Reserve toward raising interest rates again by the end of the year.
Nonfarm payrolls increased 336,000 last month after sizable upward revisions to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.8%, and wages rose at a modest pace.