Article

2019-07-05 Economy

U.S. job growth seen accelerating, rate cut still expected

WASHINGTON (Reuters) - U.S. job growth likely rebounded in June, with wage gains expected to pick up, but that would probably not be enough to discourage the Federal Reserve from cutting interest rates this month amid growing evidence the economy is slowing.

Lack of concrete progress in resolving an acrimonious trade war between the United States and China was also seen forcing the U.S. central bank’s hand, regardless of a strong employment report from the Labor Department on Friday. The Fed last month signaled it could ease monetary policy as early as July, citing low inflation as well as growing risks to the economy from an escalation in trade tensions between Washington and Beijing.

President Donald Trump and Chinese President Xi Jinping last week agreed to a trade truce and a return to talks. White House trade adviser Peter Navarro said on Tuesday talks were heading in the right direction, but it would take time to get the right deal made. The trade fight has undercut business confidence, leading to a downturn in equipment spending and manufacturing.

Posted by Besoeker 2019-07-05 06:20|| || Front Page|| [11131 views ] Top

#1 glad to see the 224k increase in payrolls

also glad to see the year over year 3.1% increase in average wage

and inflation remaining under 2%

frankly, I had thought the economy would be much weaker than it has been; we must be having a productivity increase that is unmeasured

Posted by lord garth 2019-07-05 09:41|| 2019-07-05 09:41|| Front Page Top

#2 Obama: "There's no magic wand"

Posted by Frank G 2019-07-05 10:07|| 2019-07-05 10:07|| Front Page Top

00:48 Besoeker
00:40 Frank G