The strong Labor Department report comes as consumers and businesses express increasing concern about a downturn.
Tag: Federal Reserve System
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Strong Wage and Jobs Growth Keeps Fed on Track for Big Rate Increase
The Federal Reserve is trying to cool down the economy to bring inflation under control, but the job market is still going strong.
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Fed officials, spooked by data, fretted in June about inflation becoming entrenched.
Central bankers raised rates by the most since 1994 last month, and minutes from the gathering explained their logic.