The recent slowdown in job growth in the US will likely convince the Federal Reserve to forgo another interest rate hike at its June 14-15 policy meeting. But Fed Chair Janet Yellen kept the door open for squeezing policy at some point. “I see good reasons to expect that the positive forces supporting employment growth and higher inflation will continue to outweigh the negative ones,” she advised in a speech on Monday. “As a result, I expect the economic expansion to continue, with the labor market improving further and GDP growing moderately.”
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