The Fed met earlier this week and elected to keep interest rates at a 23-year high, in an effort to wrestle inflation closer to its two percent target.
Despite this, the April jobs report, which was released today, shows that jobs grew for the 40th consecutive month, and unemployment remains under 4 percent, an historic low, for the 27th straight month.
The 12-month inflation rate is 3.5 percent, based on March CPI data.
Stocks remain on a tear, but performance is lopsided, with 10 companies driving 85 percent of this years’ gains.
We cover this and more in our First Friday economic update episode.
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