The U.S. economy added 263,000 jobs in September 2022, surpassing the consensus estimate of 250,000 jobs, expectedly prompting the Fed to maintain its hawkish stance in the coming months.
Brian Jacobsen, the senior investment strategist at Allspring Global Investments, believes, “The employment situation is still good, and that might be a little frustrating to the Fed. The Fed thinks we need more people unemployed in order to make sure inflation comes down and stays down.”
