Why US Job Market Has Defied Rising Interest Rates
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) – Last year's spike in inflation, to the highest level in four decades, was painful enough for American households. Yet the cure – much higher interest rates, to cool spending and hiring – was expected to bring even more pain. Grim forecasts from economists had predicted that as the Federal Reserve jacked up its benchmark rate ever higher, consumers and businesses would curb spending, companies would slash jobs and unemploymeCopyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
