Robust August Jobs Data Elevates Fed Hike Odds
TL;DR Summary
August added 162,000 jobs (with revisions boosting prior months), unemployment held at 4.1%, and wages rose 3.1% year over year, led by a jump in leisure and hospitality. The stronger-than-expected report could push the Fed to hike rates this month as markets price in tighter policy ahead of the midterms, with investors awaiting the Sept. 11 CPI release to confirm the trajectory.
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