What impact does a strong jobs report have on interest rates according to the discussion?
U.S. Inflation Slips From 40-Year Peak But Remains High At 8.5%
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The video discusses the July inflation report, showing a decrease to 8.5% from June's 9.1%. Monthly inflation remained unchanged at 1.3%. Gasoline and energy indexes fell, while the food index rose. A strong jobs report suggests potential future interest rate hikes, affecting consumer loans. The Fed will update interest rates in September.
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What should consumers keep in mind regarding big purchases in light of interest rate hikes?
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