BLS jobs report beats expectations, dampening chances of a July rate cut

Hiring trends continue to defy projections
Lackluster ADP jobs report raises odds of Fed rate cut

The private sector lost 33,000 jobs last month, the first ADP payroll decrease since May 2023
FHFA’s Pulte accuses Fed Chair Powell of lying to Congress, calls for investigation

Bill Pulte, in a blazing rebuke, said Jerome Powell should be removed from office
Steps to help builders weather uncertainty

Here’s how you can help your builder partners weather economic uncertainty
Trump implores Powell to cut interest rates in rare handwritten note

The president said the benchmark federal funds rate should be set between 0.25% and 1.75%
Ranking the candidates for the next Fed chair

Jerome Powell’s potential successor may be named sooner than the historical norm
PCE inflation ticks up in May as consumers cut back on spending

The latest inflation report further clouds the outlook for a Fed rate cut
Fed chair, on congressional hot seat, urges patience on rate cuts

Jerome Powell didn’t rule out a potential interest rate cut in July
Another Fed governor voices support for potential July rate cut

Michelle Bowman is in favor of a rate cut as long as inflation pressures remain contained
Fed’s Waller says a July rate cut is potentially in play

Christopher Waller’s remarks are likely to put even more pressure on Fed Chair Jerome Powell