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- The Question is Not “When” but “Why” the Fed Would Cut Rates with a Labor Market this Strong and Wage Growth Accelerating
The Question is Not “When” but “Why” the Fed Would Cut Rates with a Labor Market this Strong and Wage Growth Accelerating
by Wolf Richter Wolf Street
The amazing labor market that just keeps plugging along despite the high interest rates.
It was the kind of jobs report that you’d expect from an economy that is plugging along just fine, growing at a solid pace while the gyrations of the pandemic have settled down.
There was a kink in it though: Average hourly earnings jumped, with growth accelerating for the third month in a row, rising at an annualized rate of 5.0% in November, at the high end of the range of the past 12 months, and we discussed that a minute ago.