The US labor market remains “extraordinarily strong” and Friday’s monster jobs report underscored that the central bank has more work to do to bring down inflation, Federal Reserve Chairman Jerome Powell said Tuesday. “We didn’t expect it to be this strong,” Powell said of the January jobs report, which showed the US economy added 517,000 jobs. “It kind of shows you why we think that this will be a process that takes a significant period of time.
6%, the S&P lower by 0.3% and the tech-heavy Nasdaq down by 0.2%. While economists said the January job total was heavily influenced by seasonal factors and will probably be adjusted downward, it was probably too hot for the Fed’s liking. The robustness of the labor market has stood somewhat at odds with the Fed’s efforts to lower inflation. “The labor market is strong because the economy is strong,” Powell said.
Of course they'll raise it. They'll milk it a bit first. They want to run in and save us.
How about people don’t spend more than they can afford. That’s not everyone else’s problem to bail out people that can’t be responsible
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