Jobs Report Gives Fed a Mixed Signal Ahead of March Decision

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Federal Reserve officials received a complicated signal from February’s employment report, which showed that job growth retained substantial momentum nearly a year into the central bank’s campaign to slow the economy and cool rapid inflation. But it also included details hinting that the softening the Fed has been trying to achieve may be coming.Policymakers have raised interest rates from near zero to above 4.5 percent over the past year, and Jerome H. Powell, the Fed chair, signaled this week that the size of its March 22 rate move will hinge on the strength of incoming data — making Friday’s employment report a critical focal point for investors.But the figures painted a complicated picture. Employers add …

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