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The Fed: Jobs report takes away last hurdle to Fed interest-rate hike

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All smiles for Yellen & Co. after jobs report.

The solid February jobs report clears the way for the Federal Reserve to raise interest rates after its two-day meeting ends Wednesday, economists said.

Payrolls came in a bit stronger than expected in February and average hourly earnings accelerated to a 2.8% rate over the past year, the Labor Department said.

Read:U.S. economy adds 235,000 jobs in first monthly payrolls report of the Trump era

“This should give the Fed the last bit of confidence needed to raise rates at the March 14-15 FOMC meeting,” said Thomas Simons, senior money market economist at Jefferies.

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