Slower Job Growth May Allow Fed to Ease Interest Rate Hikes
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Slowing job growth and cooling wage pressures may allow the Fed to ease up on interest rate hikes aimed at lowering inflation.
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Financial markets now see only a 10% chance of a rate hike by January, down from 30% before the latest jobs report.
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Fed policymakers are waiting for more confirmation the economy is stabilizing before declaring victory over inflation.
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Much depends on inflation reports in coming weeks leading up to the Fed's Dec. 12-13 meeting.
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The jobs report shows hiring slowing to a level closer to the pre-pandemic trend, backing the Fed's hopes for a "soft landing" of the economy.