A mixed December jobs report likely keeps the Federal Reserve on course to remain patient about raising short-term interest rates, meaning no action at least until April and probably longer.
Payroll employment growth has clearly picked up and the jobless rate fell to 5.6%, news Fed officials have been waiting for. At the same time, however, hourly worker wages fell from the month before and other measures of unemployment are high, a sign that inflationary pressures aren’t building as hiring broadens. One reason is hidden…
Jon Hilsenrath | WSJ