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July Payrolls Smash Expectations Soaring To 528K, Wages Come In Red Hot As Unemployment Rate Drops

While we are digging through the number, the report will certainly surely will boost expectations for a 75 basis point rate hike at the Fed’s September meeting, because as Bloomberg notes, "this is not at all what the Fed wanted to see. The job market if anything is getting even hotter, not cooling." The only thing that could reverse the narrative is if next week's CPI print comes in far below expectations. Developing...
Posted: 2022-08-05 05:47:38.000000

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