In December, the U.S. economy added 256,000 jobs, exceeding forecasts and reducing the unemployment rate to 4.1%. Wage growth stabilized at 3.9% year over year, slightly below estimates. Following these reports, interest rates surged, with the 10-year Treasury yield reaching 4.75%. The Federal Reserve is now under pressure to reconsider its interest rate strategy, with some analysts suggesting potential hikes may be back on the table. President Biden is expected to highlight this job growth as a significant achievement in his administration's economic policy during his final days in office.