Surveillance: Interest Rate-Cut Hopes Fade Slowly, Then All At Once
Surprising US job strength and wage growth is rapidly deflating bets on early rate cuts by the Fed
Wall Street is intensely tracking the strength of nonfarm payrolls — a category that includes workers such as these at a Los Angeles restaurant — for clues to what the Federal Reserve will do next.
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The first week of 2024 has been a clinic in how to sober-up a market that had too much fun in December.