Economy
The jobs number surpassed everyone’s expectations. Cue the complaints about the Fed
Last month, the Federal Reserve slashed interest rates by a supersized half point in a bid to maintain the job market’s strength, Chair Jerome Powell explained in a news conference after the decision was announced.But when fresh data this Friday showed the job market is more robust than even the Fed chair thought, some analysts saw it as an opportunity to engage in what Philipp Carlsson-Szlezak, Boston Consulting Group’s chief economist, called “everyone’s favorite pastime:” bashing the Fed.“Did the Fed even need to cut rates in September, let alone cut by 50bps (basis points)?”