Tight Labor Market, The Fed Is Watching Closely

<p>The June 2023 U.S. employment report was released and indicated 209K in non-farm payrolls, lower than expected. The stock market today seems to be reacting positively to this data. However, Scott Bauer highlights that the wages number ticked up and that is something the Federal Reserve will be watching. This is a reflection of a strong consumer and could mean a 25BPS interest rare hike in the upcoming meeting.</p>