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Jobs report to keep the Fed on an aggressive tightening path

The July jobs report defied expectations of an economic slowdown and will make it harder for the Federal Reserve to slow the pace of rate hikes at its meeting next month.

The Fed is trying to slow economic activity and hiring to bring down inflation, which is at 40-year highs. Friday’s jobs report shows the economy is still running on many cylinders, making it more likely that central bank officials will conclude they need to raise rates higher and keep rates low. these levels longer to cool the economy.


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