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US facing greater risk from inflation than labor market: Fed official
US facing greater risk from inflation than labor market: Fed official

The US continues to face a greater risk from underlying inflation than from any weaknesses in the labor market, despite recent progress, a senior Federal Reserve official said Friday. The Federal Reserve has a dual mandate from Congress to keep both inflation and unemployment under control, and recently began rolling back high interest rates in order to better support the labor market.

US hiring rebounds after slump on hurricanes, strike
US hiring rebounds after slump on hurricanes, strike

The US economy added more jobs than expected last month, government data showed Friday, bouncing back from a dramatic slowdown triggered by hurricanes and labor strikes. Friday's figure "marks only a moderate-sized bounce back" from the strikes and disasters, said Nationwide chief economist Kathy Bostjancic.