Live Updates: U.S. Hiring Picks Up and Unemployment Falls
So long as the labor market stays on solid footing, officials at the Fed feel confident that they can afford to focus their attention on taming inflation, which has overshot the 2 percent target for nearly six years. They’ve adopted a gradual approach, which so far appears to be translating to an every-other-meeting cadence.
Officials raised rates in September, held them steady in October and several policymakers have indicated their support for a December move. That was before markets sold off sharply in the wake of the midterm elections, a move that prompted questions about how much more the Fed will lift borrowing costs.
