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Strong jobs data complicates Warsh’s path to lower rates
The US labor market added 172,000 jobs in May, leading to expectations of a Federal Reserve rate hike and complicating Kevin Warsh's path to lower rates. President Donald Trump's push for rate cuts conflicts with market expectations, potentially affecting Republican efforts to retain congressional control.
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Adjacent reporting
- AI is driving more job cuts and weighing on hiring, economists say
- US payrolls rise by 172,000 in May, topping expectations
- New jobs data beats expectations but unemployment rate remains concerning
- U.S. job growth blows past forecasts, setting stage for Fed rate hikes
- Australia’s Surprising Jump in Unemployment Trims Rate-Hike Bets
- The U.S. adds 172,000 jobs as the labor market picks up steam