In their effort to combat the worst inflation in 40 years, the Fed has rapidly raised its key short-term interest rate to a range of 3% to 3.25%.
WASHINGTON — The number of available jobs in the U.S. plummeted in August compared with July as businesses grow less desperate for workers, a trend that could cool chronically high inflation.
That is good news for the Federal Reserve in its efforts to bring down high prices without plunging the economy into a recession. The government jobs report released Tuesday also showed that layoffs remained historically low, even after a modest increase in August. And overall hiring was essentially
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