Friday’s eye-popping jobs number is likely to energize a debate already dividing Federal Reserve officials over whether their policy setting is slowing the economy as much as they had predicted. Employers added 272,000 new jobs in May, exceeding all estimates in a Bloomberg survey. On top of that, average hourly earnings over the past 12 months ticked up after three straight declines that had begun to reassure the central bank. While the figures likely won’t change expectations that the Fed will continue to hold interest rates at a two-decade high when policymakers meet next week, it’ll fuel a discussion that ... (full story)