Jobless Claims Decline, Demonstrating Continuing Strength in Labor Market
Economy

Federal Reserve Keeps Interest Rates High Despite Low Unemployment Rates and Tepid Wage Growth

Samantha Johnson

The labor market is showing signs of strength, even amid high interest rates. Despite a slight decline in jobless claims last week, the numbers are still historically low. This suggests that the Federal Reserve does not need to see a significant weakening in the job market to consider cutting interest rates, according to Nancy Vanden Houten from Oxford Economics. However, they must ensure that the labor market remains strong enough to support a continued slowdown in wage growth.

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