Federal Reserve Chair Jerome Powell should be more worried about tipping the economy into a recession by not lowering rates than he might be with squeezing out the so-called “last mile” of inflation by keeping borrowing costs higher for longer than needed. The reason why is the labor market looks to be deteriorating in ways that are little appreciated.
US News: The United States saw its jobless rate edge down in November while hiring rose more than expected, government data showed Friday, as policymakers mull
Nonfarm payrolls increased by 187,000 jobs last month after rising by 157,000 in July. Job growth averaged 150,000 per month over the past three months, sharply down from 238,000 in the three months through May.