Employment Rise Could Prompt Fed to Taper Sooner — Market Talk

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Employment Rise Could Prompt Fed to Taper Sooner — Market Talk

July’s bullish employment numbers “might prompt the Fed to be more hawkish,” Spartan’s Peter Cardillo tells WSJ as non-farm payrolls increase by a better-than-expected 943k. “It is a very strong number, double the amount I was looking for,” Cardillo says. “But there is some negativity for Wall Street,” as the results could give the Fed a reason to start removing monetary stimulus. Even as the Delta variant threatens to revive lockdowns, Cardillo says that “vaccinations are increasing and that could be somewhat of a cushion in the sense that people will be more willing to go back to work.”