The Hill by Sylvan Lane
The economy is giving the Federal Reserve little reason to shift its strategy of raising interest rates to lower inflation.
A Friday jobs report showed employment growth exceeding expectations in June despite rising recession fears and plunging consumer confidence. The U.S. gained 372,000 jobs last month, according to the Labor Department, beating the consensus estimates of economists by almost 100,000.
Job growth has slowed slightly since the start of the year, but economists had expected it to fall off harder in June under the weight of Fed rate hikes…
