Biden Touts Job Gains to Voters Even as Fed Threatens More Pain

When President Joe Biden needed it most, a key report landed that boosts his economic message just a month before November’s crucial midterm elections.

Biden seized on strong jobs numbers Friday as an “encouraging sign,” arguing his economic policies are working to keep the labor market resilient. At an event to tout domestic manufacturing, Biden used the numbers to hammer Republicans, whose agenda he said would roll back those gains.

But the jobs report could also spell pain ahead. Markets fell across the board Friday anticipating that the strength of the labor market as interest rates rise means the Federal ...