US shares fall on threat of interest rate rises | Pete Earle on BBC World News

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Job numbers out of the States will be watched closely with many anticipating a job figure increase of 318,000. Pete Earle joins BBC World Business Report to give his insight.

Post pandemic, the demand for workers has been strong, resisting fears over a recession and rising inflation, which stood at 8.5 percent in July. Federal Reserve Chairman Jerome Powell says the U.S. unemployment rate is currently too low for the amount of open jobs available and says the central bank will have to continue raising rates until inflation is under control. Prices are running at 40 year highs with GDP showing two quarters of negative growth.

#jobs #growth #business #federalreserve #inflation #economy

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