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Jobs report to keep Fed on aggressive tightening path

Federal Reserve Chairman Jerome Powell said the central bank raised interest rates by three-quarters of a percentage point and signaled that more large increases to combat high inflation could be coming. (Bloomberg) — Federal Reserve Chairman Jerome Powell said the central bank raised interest rates by three-quarters of a percentage point and signaled that more large increases to combat high inflation could be coming. **(Bloomberg)**

3 min read . Updated: 06 Aug 2022, 01:06 PM IST Nick Timiraos, The Wall Street Journal

Strong hiring and wage growth make it harder for central bank to dial down pace of rate rises in September

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The July jobs report defied expectations of an economic slowdown and will make it harder for the Federal Reserve to dial back the pace of rate increases at its meeting next month.

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