© Reuters. FILE PHOTO - A police officer keeps watch in front of the U.S. Federal Reserve in Washington© Reuters. FILE PHOTO – A police officer keeps watch in front of the U.S. Federal Reserve in Washington

NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:JPM) on Friday raised its forecast on the number of U.S. interest rate increases by the Federal Reserve next year to four from three as the October payrolls data reinforced the view of a tightening domestic labor market.

“In this environment we believe the Fed will see even more need for a steady, regular removal of accommodation,” JPMorgan economist Michael Feroli wrote in a research note.

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