Capital Market Impact

Cycle Watch | May 2023 Growth slows but no recession yet

May 16, 2023
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Following its May meeting, the Federal Reserve raised interest rates another quarter point, its tenth consecutive rate hike since last year. Going into that decision, the central bank signaled it might pause its policy tightening campaign – perhaps when it meets again in June. But recent data is complicating the Fed’s mission. In April, employers added 253,000 jobs, and the unemployment rate fell to 3.4%. A resilient labor market complicates the Fed’s next move.


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