US Unemployment Rate Surges in August
The US unemployment rate climbed (https://www.investing.com/economic-calendar/unemployment-rate-300) from 3.5% to 3.8% in August, defying earlier expectations of stability.
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This unexpected shift might impact the Fed's decisions on future interest rate adjustments.
Notably, elevated interest rates no longer seem to be curbing inflation, with the Consumer Price Index hitting 3.2%.
In light of these trends, Fed Chairman Jerome Powell might need to reconsider his strategies to combat inflation without jeopardizing the economy.
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