Job Openings Indicate Progress Towards Fed's Goals.

Job openings in the US fell to 9.9 million in February, the lowest in nearly two years, indicating a trend towards the "better balance" the Federal Reserve has been seeking in the labor market. The Fed hopes to achieve a considerable softening in the labor market by raising interest rates, which will help reduce inflation. However, economists warn that the decline in open roles will need to be significant, given the heights the labor market has reached since the pandemic.