BlackRock's Jeff Rosenberg Says Strong August Employment Puts Focus on CPI

BlackRock portfolio manager Jeff Rosenberg stated that U.S. employment growth in August far exceeded expectations, highlighting the importance of the Consumer Price Index (CPI) data to be released next week. Federal Reserve policymakers are considering whether to raise interest rates based on this. He said: "This, to some extent, confirms our understanding of the labor market and once again shifts the focus and pressure back to the issue of inflation. The key is whether inflation is rising or not falling fast enough, which will determine whether the Federal Reserve raises interest rates at the September meeting." He stated that if the CPI report released on September 11 continues to show improvement in inflation, "I think they will keep interest rates unchanged."