Odaily Planet Daily reports: Jeff Rosenberg, portfolio manager at BlackRock, said that the strong surge in U.S. job growth in August underscores the importance of the upcoming Consumer Price Index (CPI) data to be released next week. Federal Reserve policymakers are using this information to consider whether to raise interest rates. He said, “This somewhat confirms our understanding of the labor market and once again shifts the focus and pressure back onto inflation. The key question is whether inflation is rising or failing to decline quickly enough—that will determine whether the Fed raises rates at its September meeting.”
Jeff Rosenberg said that if the CPI report released on September 11 continues to show improving inflation, “I think they will keep rates unchanged.” (CLS)