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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.
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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.