Date: 2023-06-02T18:38:49Z Creator: Bitfolio Academy
Despite the Federal Reserve’s 10 consecutive interest rate hikes, the U.S. labor market continues to be red-hot, adding 339,000 jobs in May alone–69,000 more than was forecasted. Unfortunately, despite these seemingly positive economic indicators, the PCE, a measure of inflation, is also on the rise, rising an alarming 4.4% in April.
Despite the Fed’s best attempts at taming inflation, it appears that the U.S. economy remains on a strong footing and there’s no obvious sign of a slowdown. So, on June 14th, I expect the Fed to once again raise interest rates for the 11th consecutive time.
Interest rates are the only tool the Fed has to bring costs down and to keep inflation in check.
So, while it’s encouraging to see that the labor market is resilient, there’s still work to be done to address inflation.
Let me know in the comments. 🤔
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