June job gains signal further rate hike likely this month
Washington reports 209000 new jobs in June, the smallest rise in 2½ years yet enough to drop unemployment to 3.6 percent. Fed likely resumes rate hikes as signs of cooling inflation appear, with construction and auto sectors adding workers while retailers and warehousing cut staff. Fehr Graham plans hires amid ongoing infrastructure demand and wage increases to attract talent.
MENTIONED IN THIS ARTICLE
Washington
America
Federal Reserve
Fed
Goldilocks
Julia Coronado
MacroPol
Biden
Mick Groneweld
Fehr Graham
Rockford
Illinois
Groneweld
U.S
Dean Baker
Center For Economic Policy Research
Jobs data point to mixed read on Fed path after June report
The June jobs report shows mixed signals with 110,000 fewer April and May jobs than previously estimated. The market sees potential for another Fed rate hike soon, while the unemployment rate for Black Americans rose to 6 percent, prompting cautious forecasts of a soft landing without a recession.
MENTIONED IN THIS ARTICLE
Fed
Baker
Biden targets surprise health care costs with new rules
The Biden White House outlines steps to curb hidden health care charges. CMS proposes limiting short term plans to three to four months and ending mimicry of comprehensive insurance. The plan aims to close surprise billing loopholes and assess medical debt practices while urging clearer disclosure of facility fees and network designations.
MENTIONED IN THIS ARTICLE
Washington
Biden White House
Department of Health and Human Services
Biden
CMS
Centers For Medicare and Medicaid Services
Chiquita Brooks-LaSure
Trump
Obama
Joe Biden
Congress
Senate
Tammy Baldwin
D-Wis
Health and Human Services
Xavier Becerra
Yellen Li meet to repair US China relations
Treasury Secretary Janet Yellen and Chinese Premier Li Qiang held a one hour discussion in Beijing aiming to restore dialogue and stabilize economic ties. Yellen urged regular channels and healthy competition while defending targeted US export controls on chips and tech to curb security risks. Li offered no policy changes, saying Washington should meet China halfway.
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Bejing
U.S. Treasury
Janet Yellen
Li Qiang
Yellen
Beijing
U.S
China
U.s.-China
Treasury
Xi Jinping
Washington
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