Reported 4 months ago
The article discusses how the May ISM Services PMI exceeding expectations at 53.8 and the ADP National Employment Report showing a slowdown in private payroll growth may affect the Federal Reserve's interest rate decision. Economists Lara Rhame and David Groman provide insights on the market reactions, emphasizing the importance of upcoming hard data like the jobs report. While there is no urgency for rate cuts due to the current economic strength, a possible rate cut might not occur until after the election, possibly in November or December.
Source: YAHOO