Weak U.S. Jobs Report Kills Hopes for June Fed Rate Hike
- Economists say July rate increase from Fed now in question
- Fed’s Brainard says labor market report is ‘sobering’
Gross on How Fed Will React to Today's Jobs Report
This article is for subscribers only.
The argument for a June interest-rate hike from the Federal Reserve has evaporated.
Economists and investors largely agreed that Friday’s disappointing employment report for May -- the U.S. economy added just 38,000 new jobs -- all but eliminated the chance that Fed officials would tighten policy when they meet June 14-15 in Washington, and may make it difficult for them to raise in July.