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Biden hails January jobs report, waves off inflation question

BY Reuters | ECONOMIC | 02/03/23 10:47 AM EST

WASHINGTON (Reuters) - President Joe Biden on Friday hailed a jobs report for January that showed 517,000 jobs were created, saying it was a sign that the U.S. economy is strong.

In remarks at the White House, Biden said inflation continues to come down and real wages are going up. He dismissed a question as to whether he was responsible for the high rate of inflation, saying it was high when he took office two years ago.

(Reporting by Andrea Shalal and Steve Holland)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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