Job data puts jumbo 0.75 percentage point rate hike back on table at Fed’s December meeting
The strong wage gains in the U.S. November jobs report published Friday may put the possibility of a 0.75 percentage point interest rate hike back on the table for the Federal Reserve’s policy meeting in two weeks, instead of a more moderate half-point hike, said Diane Swonk, chief economist at KPMG US.
The... The strong wage gains in the U.S. November jobs report published Friday may put the possibility of a 0.75 percentage point interest rate hike back on the table for the Federal Reserve’s policy meeting in two weeks, instead of a more moderate half-point hike, said Diane Swonk, chief economist at KPMG US.
The large wage rises will translate into higher service sector inflation and puts a “floor” under the inflation rate around 4%, Swonk said.Fed Chairman Jerome Powell on Wednesday highlighted that wages are critical in service sector inflation. New York Times columnist Paul Krugman tweeted that he was less optimistic about inflation after the jobs data come out.
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