The unflinching resilience of the US labor market is one of — if not the — greatest source of tension in today’s economy. Federal Reserve officials have said on numerous occasions that they believe elevated inflation rates will remain sticky until employment numbers, and the pace of wage increases, shift lower. That means the Fed’s already painful rate hikes are likely to continue until the job market simmers. But it’s still boiling.
“Activity has weakened in the most interest rate-sensitive sectors of the economy, but core areas are still showing resilience. We are in this in-between period where the impact of rates has not fully worked through the economy.” Hirt said he expects the unemployment rate will likely climb from its current 54-year low, albeit slowly and modestly, to around 4.5% to 5% by the end of this year.
Hell Week caused by our Hellish Administration.
To bad fed Bostic helped turn the end of the week into a squeeze rally 😑 nothing like a little fed interference to help clap everyones puts 👏
As my financial advisor always says - Ignore the headlines and follow the history…
Chinese news network. Fake news
Which the rich are banking on.
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Source: CNBC - 🏆 12. / 72 Read more »