A hotter-than-expected US jobs report will likely nudge the Federal Reserve toward raising interest rates again by the end of the year.
Fed officials believe the labor market remains overheated, contributing to price pressures that have pushed inflation well above the central bank’s 2% goal. Backsliding risk In addition, a recent surge in longer-term yields may be doing some of the central bank’s work already, said Diane Swonk, chief economist at KPMG LLP in Chicago.
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