US job growth rebounds with 224,000 created in June
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Will the Fed lower interest rates, despite a better-than-expected jobs report? Traders say yes
A better-than-expected June jobs report Opens a New Window. sent stocks falling Friday morning as it poured cold water over the chance of a rate cut by the Federal Reserve Opens a New Window. at the end of the month.
Viewed as critical to the U.S. central bank’s decision-making process during its two-day meeting in July, the jobs report, published by the Bureau of Labor Statistics, boasted 224,000 jobs created last month, far above the 160,000 predicted by analysts, eased fears about the possibility of an economic slowdown.
… traders continued to clamor for a rate cut, pricing in a 100 percent chance of a rate cut at the upcoming meeting.
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