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Uncertainty in the labor market is making a summer rate cut less likely, with real consequences for borrowers and savers.
The job market is giving the Federal Reserve mixed signals, and that confusion could keep your borrowing costs higher for longer than expected. May’s employment report landed somewhere between “not great” and “not terrible.” Employers added 139,000 jobs while unemployment held steady at 4.2%. That’s just stable enough to make Fed Chair Jerome Powell think twice about cutting interest rates this…
