The Fed approved its fourth consecutive 75-bps rate hike last week, taking the target range to 3.75%-4% and marking the most aggressive monetary policy tightening since the early 1980s.
On the other hand, the U.S. labor market added 261,000 new jobs in October. Although the jobs report remains resilient, it shows signs of cooling down as employers have already replaced all of the 22 million jobs that were lost during the pandemic.
