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The December jobs report is in, and it's good news for workers. According to the Labor Department, employers added 256,000 jobs in December, which is well above the 155,000 that was forecasted by the Dow Jones consensus.
Heritage Foundation economist Steve Moore told Fox Business that this is a positive sign. He said, "It's a good report, and I'm very relieved because I expected a lower number. And it shows that there is some resilience in this economy."
However, there is still some concern that the economy could continue to heat up too much, which would lead to more inflation. Stephanie Pomboy, owner of Macromavens, echoed this concern, saying, "The Fed really has no runway to continue cutting rates, and if they do, they're just going to ignite further these already increasing inflation pressures."
Moore says what we really need now is to just let the private sector get to work on its own and start producing. He points out that if you let the free market simply produce more goods, that will help reduce the price of those goods.