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Booming Job Gains Could Fuel Fed Debate Over Whether More Is Needed to Corral Inflation
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Fresh signs of a hot U.S. labor market leave the Federal Reserve on course to raise interest rates by a quarter percentage point at its meeting next month and to signal another increase is likely after that.
The Fed voted Wednesday to raise its benchmark federal-funds rate by a quarter point to a range between 4.5% and 4.75%. The central bank is seeking to slow economic growth to a below-average pace to weaken demand and restrain inflation, which has eased recently after hitting a 40-year high last year.
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