![]() ![]() The yield on the 2-year Treasury, which tracks expectations for the Fed, got as high as 4.91% at one point, but fell to 4.88% by late afternoon. The Fed has maintained that it is ready to keep raising interest rates if it has to, but will base its next moves on the latest economic data.īond yields were mostly rose Friday. The goal has been to rein inflation back to the Fed’s target of 2%. The central bank has raised its main interest rate aggressively since 2022 to the highest level since 2001. “From a data-dependent Fed perspective, the economic data we have seen in August in conjunction with today’s jobs report certainly reinforces the idea that we have seen the last rate hike during this cycle,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. The recent economic snapshots have bolstered the view on Wall Street that the Fed may hold rates steady at its next policy meeting in September. economy remains remarkably resilient - led to the market’s pullback in August.īut this week, stocks mostly rallied following reports showing job openings fell to the lowest level since March 2021, consumer confidence tumbled in August and a measure of inflation closely tracked by the Fed remained low in July. Market jitters over the possibility that the Fed might have to keep interest rates higher for longer - following reports showing the U.S. But they also made the central bank’s task of taming inflation more difficult by fueling wage and price increases. ![]() The strong job market, along with consumer spending, has so far helped thwart a recession that analysts expected at some point in 2023.
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