Federal Reserve officials lately have been pretty upbeat about the economic outlook, a key reason they are talking about raising short-term interest rates as soon as September.
Economists surveyed ahead of Friday’s jobs report expected the Labor Department to report a 5.3% unemployment rate in July and payroll employment gains of 215,000. That is likely enough to satisfy the Fed’s view that the job market is producing solid gains. Even a disappointing report might not be enough to dissuade Fed officials from their view.
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