Diane Swonk: Surge in payrolls and falling unemployment suggest Fed could raise rates in December

Diane Swonk: Surge in payrolls and falling unemployment suggest Fed could raise rates in December
U.S. payrolls and jobless data support rate hike

U.S. payrolls surged by 165,000, with labor force participation increasing across the board and the unemployment rate declining to 4.1%.

Diane Swonk said this combination of stronger job growth and a lower unemployment rate could give the Federal Reserve a green light to focus on combating inflation by implementing another rate hike in December.

Earlier this year, Diane Swonk reported that the Federal Reserve was expected to skip an October rate hike. In a separate note, she shared that a poll showed 53% of baby boomers feel confident managing debt, compared to 42% of other groups, according to Principal Financial Group data. These topics have remained in focus as policymakers weigh fresh economic data.

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