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Jobs Slow, Fed Eyes Rates | Business and Finance News
Description
Job growth slowed to just 57,000 in June, falling short of expectations and sparking renewed Fed scrutiny. Revisions to April and May data further dimmed optimism, with inflation still stubbornly high. Fed officials, including Chair Kevin Warsh, insist the labor market remains steady and reject fears AI will destroy jobs — calling it a “lump of labor fallacy.” Warsh reaffirmed the Fed’s commitment to taming inflation, now forecasting higher prices this year. With the report released early due to the holiday, the central bank is carefully weighing these signals as it prepares its next move.
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