Report | Barring negative shock, rate hike coming in December
Barring a negative idiosyncratic shock, a rate hike of 25 basis points is coming in December.
Although the Fed took no action last week, as anticipated, last Friday's employment situation release for October reinforced the thesis for a December hike. The key data point from the release was wage growth, which hit 2.8 percent on a year-over-year basis. That is the highest year-over-year growth rate since June of 2009. The remainder of the report was mixed.
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