Headline numbers from the June jobs report took pressure off the Federal Reserve to consider an interest-rate cut later this month, leaving the central bank on hold at least until the fall.
U.S. employers added 147,000 jobs last month, exceeding estimates, while the unemployment rate ticked lower to 4.1%, according to the Bureau of Labor Statistics.
The report gives Fed Chair Jerome Powell room for a wait-and-see approach to easing policy, according to Gregory Faranello, head of U.S. rates trading and strategy for AmeriVet Securities. Read more.