How Hot Can U.S. Hiring Get?

Hello. Today we look at how hot the U.S. labor market is and what that means for the Federal Reserve. We also talk about what is happening in the world economy this week and the climate change challenge.

Most Federal Reserve policy makers, until recently at least, expected to hold off on raising interest rates until 2023. The thinking was it would take that long to fill the many millions of jobs — almost 5 at last count — still missing compared with the pre-pandemic peak.