The concern is that higher rates are putting pressure on households and businesses looking to borrow, weighing on hiring, investment and the housing market.
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US employers added a solid 199,000 jobs in November in sign of a still-sturdy labor market
Still, the job market is gradually decelerating along the lines that Fed officials have wanted to see. The Fed has raised its key short-term rate from near zero to about 5.4%, a 22-year peak, leading to higher borrowing rates for consumers and businesses and lower inflation. Despite that headwind, the economy and the job market […]
US employers added surprisingly robust 353,000 jobs in January in further sign of economic strength
This week, the Federal Reserve took note of the economy’s durability, with Chair Jerome Powell saying “the economy is performing well, the labor market remains strong.” The Fed made clear that while it’s nearing a long-awaited shift toward cutting interest rates, it’s in no hurry to do so. To fight inflation, the Fed raised its […]
Biden hoped for a big economic story to tell. Now, he's going small.
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