Strong economy and muted inflation may allow Fed to continue gradual rate hikes

The jobs report will help determine if the Fed raises rates again in November. Wage growth is a key indicator to watch.

Household debt as a percentage of GDP is near a 20-year low, making consumers less sensitive to rate hikes.

Corporate debt as a share of net worth is at a 50-year low. Most debt is fixed rate and longer term.

Lower interest costs have boosted corporate profits and fueled spending despite rate hikes.

With disinflation ongoing, the author believes a soft landing remains likely despite market doubts.