Positive economic news indicates US interest rates to rise

“A suite of positive economic news this week makes it more likely that the U.S. will raise interest rates sooner than most experts have been anticipating,” Pete Evans wrote in a CBC News article late last week. Evans continued, “On Thursday, the U.S. Commerce Department unveiled data showing the American economy added another 288,000 jobs in June. That’s the fifth straight month that the figure has come in better than was expected, and the strong job gains are pushing the stubbornly high unemployment rate lower. ‘Since February, this has now become a textbook jobs expansion,’ said Patrick O’Keefe, director of economic research at the consultancy CohnReznick. ‘It is both broad and accelerating.’ America’s jobless rate is now at 6.1 per cent, the lowest it’s been since September 2008, which is before bank failures such as Bear Stearns and Lehman Brothers kicked off a worldwide recession from which the global economy is still recovering.” Read Evans full article here.  

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