Raphael Nam

You would think that when the US government reports the economy added about 170,000 jobs, as it happened this morning, people would cheer.

But for investors, the problem is that a strong jobs report means the Fed could now turn its full attention to controlling surging inflation.

Traditionally, policymakers have been more willing to raise interest rates when they believe the labor market is robust.

Among the big decliners were AI stocks.

They've been doing really well, so investors used the chance to cash in some profits.

As a result, the tech-heavy Nasdaq was particularly hit, plunging more than 4%, its worst day of the year.

Rafael Nam, NPR News.

Every month, the Commerce Department releases a set of economic data that looks at household income and spending, as well as inflation.

This inflation report is not as well known as the one on consumer prices released by the Labor Department, but it is one that's followed closely by the Federal Reserve.

Inflation has spiked recently as energy prices have surged because of the war with Iran.

And it will be up to new Fed Chair Kevin Walsh and a group of Fed governors to decide what to do about it.

That group will include the recent Fed Chair Jerome Powell, who will stay on the panel that sets interest rates.

Rafael Nam, NPR News.

Went to like, what, six weeks?

They said, well, it's taking so long.

We were in Vietnam 19 years.

The World Cup was seen as a big deal in the hotel industry.

The tournament is being staged this summer across the US, Canada, and Mexico, with 11 American cities hosting games.

But an industry survey from the American Hotel and Lodging Association shows that nearly 80% of hotels in host cities are saying bookings are running below projections.

For some cities, it gets even worse.