How U.S. job market defied rising interest rates and predictions of high unemployment

How U.S. job market defied rising interest rates and predictions of high unemployment

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Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households. Yet the cure — much higher interest rates, to cool spending and hiring — was expected to bring even more pain. Grim forecasts from economists had predicted that as the Federal Reserve…

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