Trump inherits a labor market at full employment. Can he keep it there?
Defying fears of a pandemic-driven Great Depression and bucking Federal Reserve interest rate hikes as well, the U.S. job market has hit what U.S. central bank officials are characterizing as a moment of stable full employment, with balanced wage and job growth and a low unemployment rate. As the job market signaled growing weakness last year and the unemployment rate rose, "the question was, are we going to settle in at full employment, or crash through" to yet higher joblessness, as has typically been the case when the unemployment rate rises, Chicago Fed President Austan Goolsbee said on Thursday.
