Fed Rate-Hike Bets Fade as US Labor Market Cools Sharply
Traders have sharply reduced expectations for another Federal Reserve rate hike later this year after a weaker-than-expected US jobs report signaled a cooling labor market. The economy added just 29,000 jobs last month, far below forecasts, while the unemployment rate rose to 4.2%, reinforcing the view that policymakers may have less room to tighten further even as inflation remains a concern.
