Finance & economics | Two cheers amid the fears

For a change, American inflation is lower than expected

But a continued jobs boom points to a need for yet more Fed tightening

(FILES) In this file photo taken on June 03, 2022, people walk past a "now hiring" sign posted outside of a restaurant in Arlington, Virginia. - The US economy continued to add jobs in June at a rapid pace, while the unemployment rate held steady at 3.6 percent and wages rose, according to government data released on July 8, 2022. There were 372,000 new positions added in the month, far more than economists expected, the Labor Deparment reported. (Photo by OLIVIER DOULIERY / AFP) (Photo by OLIVIER DOULIERY/AFP via Getty Images)
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Editor’s note (August 10th, 2022): This article, originally published on August 5th, has been updated after the release of the latest consumer-price inflation figures.

This article appeared in the Finance & economics section of the print edition under the headline “Two cheers amid the fears”

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