The U.S. employment report for June takes some pressure off the Federal Reserve to raise interest rates in the near term, Janus Henderson Investors' Bradford Smith writes in a note. That said, Fed Chairman Kevin Warsh commented at his first press conference that jobs data only becomes meaningful after the third revision and by then becomes "echoes of history," the portfolio manager notes. With oil-price inflation moderating, some softness on the jobs front will likely keep the Fed on hold, at least for the next meeting, Smith says. The U.S. economy added 57,000 jobs in June, fewer than the 115,000 expected by analysts in The Wall Street Journal's poll. (emese.bartha@wsj.com)
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U.S. Labor Data Reduces Pressure on Fed to Raise Rates — Market Talk
The U.S. employment report for June takes some pressure off the Federal Reserve to raise interest rates in the near term, Janus Henderson Investors' Bradford Smith writes in a note. That said, Fed Chairman Kevin Warsh commented at his first press conference that jobs data only becomes meaningful af…