U.S. employers are hiring workers, but that is only making the Federal Reserve&#...
NEW YORK - U.S. employers are hiring workers, but that is only making the Federal Reserve’s job harder.
“They are in a bit of a bind,” said Karim Basta, chief economist at III Capital Management. “On the surface, the data, in my opinion, doesn’t really support an imminent cut, but markets are expecting it, and I do think there’s a risk at this stage that they disappoint.” Markets are overwhelmingly betting the Fed’s next move will be its first rate cut since the financial crisis a decade ago. President Donald Trump on Friday renewed demands for lower rates to strengthen the economy.
“A rate cut in July is still all but inevitable,” said Luke Bartholomew, investment strategist for Aberdeen Standard Investments. “Employment growth remains a bright spot amid a fairly mixed bag of U.S. data and yet markets have come to expect a cut now so will fall out of bed if they don’t get one.”
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