Jobs

June Jobs Report Weakens Case for Larger Fed Rate Cut This Month

7/6/19
from The Wall Street Journal,
7/5/19:

But a rebound in hiring last month may not provide enough reason to scrap plans for an ‘insurance’ cut.

The strong June employment report should ease Federal Reserve officials’ concerns about a sharper-than-anticipated U.S. economic slowdown, but still leaves the door open to an interest-rate cut at their meeting this month. Officials in June appeared to set a low bar for at least a quarter-percentage-point reduction in their short-term benchmark rate to prevent against the economic outlook seriously worsening. But the robust job gains posted last month weaken the case for the half-point cut some market participants anticipated before the report’s release.

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