Jobs report ‘strengthens’ rate hike case, doesn’t guarantee it: Economist
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The September jobs report came in hotter than expected, with 336,000 jobs added to the U.S. economy. What does this mean for the Federal Reserve’s future rate hikes? Citi Global Economist Robert Sockin joins Yahoo Finance Live to discuss. “On balance, it puts the Fed in a difficult spot because, on the one hand, they’re seeing very strong labor demand and very strong hiring,” Sockin says, “[and] on the other hand, you also saw wage growth come in a bit softer than expected.” Sockin believes that while the jobs report encourages the case for another rate hike, “it doesn’t guarantee it given that you’re getting some mixed signals on the […]