The U.S. labor market is showing signs of cooling following the Federal Reserve’s aggressive interest-rate increases to combat high inflation. October’s job report was strong by historical standards, as the unemployment rate rose marginally to 3.7% last month from 3.5% in September.
On top of it, Regional Fed presidents Thomas Barkin and Susan Collins recently indicated that they see the possibility for slower rate hikes. “I think the implication for that is probably a slower pace of increases, a longer pace of increases and a potentially higher point,” Barkin told CNBC.
