, Columnist
That Fed Pivot on Interest Rates May Be Delayed Awhile
Central banks aren’t done fighting inflation just yet.
Not ready yet.
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November’s 0.6% month-on-month increase in US wages “is going to be eye-popping for the Fed,” according to Cliff Hodge, chief investment officer for Cornerstone Financial. Strong wage growth combined with Friday’s higher-than-anticipated 263,000 gain in nonfarm payrolls mean the US central bank needs to continue tightening monetary policy in the coming months — with borrowing costs likely to head higher than many investors are currently anticipating, argues Bloomberg’s editorial board.