BlackRock portfolio manager Jeff Rosenberg said U.S. August payrolls came in
well above expectations, increasing the market importance of next Tuesday's CPI
(Sept. 11) as Fed officials weigh a September rate hike. He said the strong jobs
print confirms a firm labor market and refocuses pressure on inflation: whether
inflation is rising or not falling fast enough will determine a September hike;
if the Sept. 11 CPI shows continued improvement, he expects policymakers to keep
rates unchanged.
