A stronger-than-expected labor report just crushed any hopes that the Federal Reserve would lower rates this month—despite speculation from Wall Street and direct demands from President Donald Trump.
In June, the U.S. economy added 147,000 jobs, topping forecasts, while the unemployment rate ticked down to 4.1%, according to the latest Bureau of Labor Statistics data released Friday. Those numbers make it hard for the Fed to justify an imminent rate cut, as inflation remains above the 2% target.
