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MNI Employment Insight, Aug'22: Full Steam Ahead For Fed

US
  • Payroll growth twice the pace expected, pushing payrolls back above pre-pandemic levels
  • U/E rate surprisingly falls to joint fifty-year low and AHE growth accelerates from upward revision
  • With CPI on Wed and plenty of data before the Sep FOMC, analysts are reluctant to formally change rate calls but see greater risk of a third 75bp hike
See full note including takeaways from 12 sellside analysts here: https://marketnews.com/mni-us-employment-insight-aug-22-fed-full-steam-ahead

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