GOBankingRates: Is the Latest Jobs Report Signaling a More Aggressive Fed Hike?

Written By Matt Sigelman

August 8, 2022

By Yael Bizouati-Kennedy

The U.S. added 528,000 jobs in July, largely beating estimates, and unemployment was at 3.5%, the Bureau of Labor Statistics (BLS) reported last week. The blowout report is reigniting several economists’ views that the Federal Reserve might move more aggressively at its next meeting in September.

Rusty Vanneman, Chief Investment Strategist at Orion Advisor Solutions, told GOBankingRates that the job report was impressive, especially considering the recent rise in jobless claims, announced layoffs at giants such as Amazon and Walmart, and the recent drop in job openings. He summed it up by saying that it “felt like the expected number of 250,000 was going to be too high.”…

https://www.gobankingrates.com/money/economy/latest-jobs-report-signaling-more-aggressive-fed-hike/

Matt Sigelman
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