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Strong Job Gains Keeps Fed on Track for Rate Increase in March
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A steady gain in hiring in January does little to change the Federal Reserve’s intention to lift interest rates from near zero at its policy meeting next month.
Fed officials had already signaled they were prepared to look past Friday’s report amid fears of a hiring slowdown from the Omicron variant of the coronavirus, which surged across the U.S. last month. Instead, the report showed surprising strength in hiring, not just last month, but over the past several months.
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