The U.S. Federal Reserve has been aggressively raising interest rates to slow demand for purchases like cars, homes, and appliances.
One of the largest banks in the U.S., Bank of America, is warning that the pace of job growth in the U.S. is expected to be cut by around half during the fourth quarter of this year.
The Federal Reserve has been aggressively raising interest rates to slow demand in the real estate market, with purchases of cars and appliances and in many other areas. The U.S. central bank has been raising interest rates at its fastest pace in four decades, and Gapen says the Fed is willing to accept some weakness in the labor market to bring down inflation.
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