The WSJ takes a look a the Fed after non-farm payrolls
It's getting tougher for the Fed to blame low inflation and wage growth on one-off items, the WSJ reports.
"Friday's jobs report suggests that the so-called natural rate of unemployment-the rate below which employers have to pay more to attract qualified workers-could be even lower than economists expected."
The main takeaway from the report is that it hurts the argument that the jobs market is at full capacity and wage hikes are inevitable.
"The internals of Friday's Labor Department report could magnify the debate over how aggressively the central bank should move forward with rate increases because, at the margins, the data give less reason to worry about the economy overheating."
Here is what the market is pricing in for the months ahead.
