An upbeat jobs report adding 528,000 jobs to the U.S. labor market has many believing the Federal Reserve will continue its path of aggressive rate hikes to fight inflation. This suggests that high inflation is here to stay — at least for a while. While the Fed is expecting job growth to slow, that doesn’t appear to be the case. The report will be one of two that the U.S. central bank will see before deciding how much to raise rates in September.
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