US jobs market too hot for the Fed?
Monday 8th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The US non-farm payrolls numbers on Friday were certainly a surprise to many, with 528k new jobs created in July, twice the market expectation. Wages also rose further. Phil talks to NAB\u2019s Ray Attrill about the swift market response, with many assuming the Fed will go for another big hike at their next meeting. US consumer credit numbers on Friday are also a forewarning of a difficulty period ahead for struggling housheolds. Meanwhile, Joe Biden\u2019s Climate bill has just been passed by the senate \u2013 what impact will another splurge of government spending have on the Fed\u2019s endeavours to bring down inflation. Speaking of which, US CPI is the number to look out for this week.
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