Big jobs gain ‘has bought the Fed some time,’ but more help eventually will be needed


The Federal Reserve Bank building

Kevin Lamarque | Reuters

In addition to signaling a possible turn in the economy, the big job gains in May give the Federal Reserve some more wiggle room before its next policy move.

Markets will be watching this week’s Federal Open Market Committee meeting more for what the central bankers say than what they do. There’s virtually no chance they will move on interest rates, and only a marginal possibility of changes to asset purchases or the myriad programs put in place to combat the coronavirus pandemic and the accompanying recession.

However, the committee could give a nod to future intentions regarding caps put on interest rates, as well as guidance for…


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