A blowout U.S. jobs report for July means the Federal Reserve will probably need to keep going with the most aggressive interest-rate hikes in decades to curb demand and inflation, according to economists.
U.S. employers added 528,000 jobs last month, more than all estimates; the unemployment rate fell to a five-decade low of 3.5 percent; and wage growth accelerated, the Labor Department said.
"The good news is [that] people can get jobs; the bad news is that inflation remains too high, and our number-one priority is to get that down," San Francisco Fed President Mary Daly said Friday on Fox News.
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