Federal Reserve officials say that when they look at the data that drives their policy decisions, they focus on the trend rather than any one month’s number.
August jobs data, due Friday, could be a break from that practice. U.S. central bank officials are getting closer to the day when they will pull back what’s been $120 billion a month in bond-buying stimulus purchases. With inflation already well above the Fed’s 2% target, the job market’s performance is now the make or break factor in determining when a pullback in asset buying will kick off.
