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U.S. Economy Adds 257,000 Jobs in January Fueling June Rate Hike Worries

July 31, 2023
in Trade Tube
Reading Time: 1 min read
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The markets rose slightly following Friday morning’s jobs report, which topped economists’ expectations. Plus, November and December’s jobs numbers were revised significantly higher, showing even more strength in the labor market than previously reported. But investors now worry about if the strong jobs numbers could prompt the Federal Reserve to raise interest rates in June, despite plenty of talk that the central bank may not pull the trigger until September, amid little inflation and the continuing strength of the dollar. TheStreet’s Scott Gamm speaks with Steve Freedman, cross-asset allocation strategist at UBS for more details.

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