U.S. August Jobs Report Exceeds Forecasts, Boosting Federal Reserve Rate Hike Bets

The U.S. economy added 162,000 jobs in August, surpassing forecasts and leading to increased speculation of a September interest rate hike by the Federal Reserve. This stronger-than-expected job growth also contributed to a rise in Treasury yields and the dollar, while stocks experienced a decline. Mortgage rates have also climbed sharply amid concerns about inflation and U.S. debt.