Surveillance: El-Erian Says ‘Wow’ Jobs Report Threatens a Fed Headache
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The US jobs report for February 2, 2024, exceeded expectations with 353,000 new jobs and strong average hourly earnings. Mohamed El-Erian, Chief Economic Advisor at Allianz, described the report as a 'wow' and believes it poses a headache for the Federal Reserve. The strong wage growth presents a quandary for policymakers who were considering cutting rates. Wall Street reacted positively to the report.

#UsJobsReport #FederalReserve #WageGrowth

https://www.bloomberg.com/news/newsletters/2024-02-02/el-erian-says-wow-us-jobs-report-tees-up-a-headache-for-the-fed