Strong US Jobs Report Revives Interest Rate Hike Fears

US job growth accelerated sharply in August, with an increase of 162,000 jobs, while the unemployment rate remained steady at 4.1%. This data has put a September interest rate hike by the Federal Reserve back on the table.

The strong jobs report was driven mainly by women, who accounted for 98% of the new hires, according to an analysis of data from the Bureau of Labor Statistics.

President Donald Trump has been urging the Fed not to raise rates, citing concerns about the impact on the bond market. In contrast, Federal Reserve officials such as Kevin Warsh are facing a squeeze: risk presidential ire by tightening monetary policy or skip it and avoid controversy.