Job Growth Stays Strong Despite Fed Rate Hikes, But Higher Rates Are Squeezing Consumers and Stocks

Job growth remains robust even as the Fed hikes rates to combat inflation, confounding expectations of a hiring slowdown.

Long-term interest rates like the 10-year Treasury yield have jumped recently due to declining demand for bonds, raising borrowing costs.

Higher rates are causing pain for consumers through more expensive mortgages and auto loans, and are pressuring stock prices.

America's swelling national debt may finally be causing bond investors to lose confidence and demand higher yields.

Voters are pessimistic about the economy despite the strong job market, sinking Biden's approval rating.