US Jobs Surge Raises Odds of December Fed Hike

The October jobs report was surprisingly strong, showing that hiring is broadening beyond its previous focus. Wong says this trend is evident in white collar, manufacturing, and transportation sectors.

This development strengthens the case for another Federal Reserve rate hike. The Fed has been fighting to bring inflation down, and a robust labor market complicates that task.

Wong also discussed the Bloomberg Price Project, which uses millions of alternative data points to provide an independent, more granular measure of US inflation.