Hiring in the US was stronger than expected in May with 272,000 jobs added, although unemployment simultaneously rose to 4.00% for the first time since Jan 2022. The increase in jobs is an indication that employers remain undaunted despite pressure from high interest rates and slowing consumer spending. Additionally, in May, the US economy experienced a slight cooling of inflation as consumer prices rose at an annual rate of 3.30%, prompting Fed officials to set out a future path for interest ...

From Issue: Third-Party Planning — A Revolution for the Field?
(Summer 2024)

Modest Growth Remains Likely as Fed Lags Foreign Counterparts in Quantitative Easing