Reported 1 day ago
President Trump urged the Federal Reserve to implement a significant one-point rate cut, claiming the U.S. economy is thriving, but a strong jobs report revealed the labor market's resilience, diminishing the likelihood of any rate cuts in the near future. The Labor Department reported 139,000 new nonfarm jobs in May, surpassing expectations, and keeping the unemployment rate steady at 4.2%. Fed officials, now more concerned about inflation than employment, seem poised to maintain current rates, with investors predicting no cuts until at least September.
Source: YAHOO