Jobs Number to Reassure Fed 2016 Rate Hike Is Still Possible

July 8, 2016 2:43 PM

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A solid rebound in the U.S. labor market in June following a dismal May will ease worries at the Federal Reserve about the underlying health of the U.S. economy and keep officials open to raising interest rates this year.

“The Fed will breathe a bit of a sigh of relief,” said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York. “This is going to give them a little bit of comfort, and my guess is they’ll repeat that, if their forecast plays out, they’ll move this year.”

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