Fed on course for July rate hike – Commerzbank

Today’s labor market data did not reach expectations. As a result, the Fed is likely to raise its key interest rates at the July meeting, in the opinion of economists at Commerzbank.

US labor market misses high expectations

The US employment report for June was mixed. It is true that job growth slowed to 209 thousand. But other aspects turned out better than in May. 

Even though the labor market is cooling, it likely remains too strong from the Fed’s perspective. The Fed is therefore likely to raise rates again this month.