US jobs slowdown to keep Fed's hand off rate-hike button

Analysts say the dismal May jobs report released on June 3, the worst in almost six years, and still-weak inflation will stay the hand of the Federal Open Market CommitteeThe unexpected downturn in the US jobs market has once again removed an interest rate hike from the table as the Federal Reserve meets on monetary policy this week. Analysts say the dismal May jobs report released on June 3, the worst in almost six years, and still-weak inflation will stay the hand of the Federal Open Market Committee, despite strong expectations just three weeks ago that a hike was coming this month or next. Yellen called it “concerning” and, while insisting she was still confident in steady US economic growth this year, abandoned any calendar reference for a rate increase.

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