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Early-year wage acceleration won't push Fed to hike rates faster or further
The acceleration in wage growth in January fits with the popular market narrative that the Fed will become more aggressive this year, but close observers of the central bank aren’t buying it. At least not yet. “It is one data point. Everyone should take a deep breath,” said Omair Sharif, senior U.S. economist at Societe Generale. “I understand it fits the narrative, but it is just one data point,” he added. The Labor Department reported Friday that the U.S. added 200,000 jobs in January with wage growth rising at a 2.9% annual rate, the fastest pace in more than eight years. After the data, the yield on a ... (full story)