While the job market remains hot, its easing temperature could allow the Federal Reserve to go forward with interest rate cuts expected in the coming months, some analysts told ABC News on Friday. A solid job market exemplifies the continued strength of the U.S. economy, since profits driven by strong demand lead to growth and additional hiring. That rate exceeds the inflation rate of 3.1%, effectively giving the typical worker a pay bump. "If the economy can continue to add jobs but without triggering a resurgence in wage growth, the Fed will achieve its soft landing," Shah said. Stronger than expected job gains reinforce hope of 'soft landing' originally appeared on abcnews.go.com

Source: ABC News March 08, 2024 17:00 UTC