Invesco QQQ (QQQ): ETF Research Reports And while that tightening of the employment situation is more of what the Fed has in mind, wherever we still see sizable job availability putting the hiree in the driver’s seat, this means higher wages are in play — counter to conducting lower overall inflation metrics. Put simply, a prolonged healthy labor market is bad for interest rates going forward; at least we shouldn’t expect a Fed slowing or pausing anytime soon.