Inflation is alive, the Fed could hike rates again, and businesses are facing greater uncertainties today than in the past 50 years, former Home Depot CEO says
showing the labor market remains robust, with US employers adding 339,000 jobs."I think it's possible. We were all excited about the jobs report but over 60,000 of those were government jobs," he said.
"We saw unemployment go up, just a tick. We saw hours work go down. That's equivalent to about 700,000 jobs and lower paychecks for the people out there working," the former Chrysler chief executive added. The nation's central bank has already hiked interest rates by 500 basis points since early 2022 in a bid to tame soaring price pressures. A majority of investors however are expecting the Fed to pause its policy tightening as the fallout from the recent bank collapses continues to disrupt the economy.
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