Now what does the Fed do after a much stronger jobs report for June?
The Fed finds itself with a real dilemma. Wall Street is expecting and even demanding a cut in managed rates at the next FOMC meeting at the end of July. The fear is the U.S. economy is slowing due to the length of the expansion (now at a record), weak global growth finally affecting our economy and the trade tariffs being imposed mainly with China. These uncertainties were cited by the Fed at their last meeting as reasons for possible changes in monetary policy. Then we got the employment report for June.
PROBANK AUSTIN ADVISOR - JULY 8, 2019