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The Biden White House is once again rooting for a Goldilocks jobs number on Friday, as the Federal Reserve considers increasing its pace of interest rate hikes in the coming weeks as a part of its ongoing efforts to tame inflation.
The US Bureau of Labor Statistics is set to announce how many jobs were added to the US economy in the month of February and where the unemployment rate stands and White House officials are keeping their fingers crossed for a moderate report, hoping to land in the sweet spot of around 250,000 jobs added last month.
It is yet another sign that President Joe Biden continues to confront a bit of a problem – or, as White House officials would insist, a good problem – in the form of a hot labor market.
When it comes to one of the thorniest domestic challenges of Biden’s presidency – inflation – White House officials say they’re keeping their eyes on longer-term trends over any one month-to-month fluctuation.
