Stock Market Crash: More Pain Ahead for Stocks After Huge Jobs Report
- The US economy added 528,000 jobs in July, the Labor Department said on Friday.
- This signals the labor market remains in good shape, and the Fed can proceed with hawkish policies.
- That's bad news for stocks, many on Wall Street said on Friday.
On Tuesday, San Francisco Fed President Mary Daly went on a LinkedIn livestream with CNBC's Jon Fortt and sent a firm message: the central bank is "nowhere near" done tightening policy.
Daly's directness was very deliberate, some say. The Fed trotted out one of its most notorious doves to walk back what many investors had perceived as wishy-washy comments from Jerome Powell at the Federal Open Market Committee's July meeting the week before.
Markets were starting to doubt the Fed's resolve to tighten and …
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