The U.S. Employment Report for June, 2021 and Federal Reserve Policy

I am quoted in Yahoo Finance on the U.S. employment report for June, 2021 and its possible impact on Federal Reserve policy.

However, while Friday’s jobs report said that nonfarm payrolls grew by a higher-than-expected 850,000 in June, the unemployment rate was also higher than expected and the pace of hourly earnings growth slowed, easing concerns that the central bank would raise interest rates sooner than expected.

This report “would probably not convince the Federal Reserve to change its current policy,” said David I. Kass, Clinical Professor of Finance with the Robert H. Smith School of Business at the University of Maryland.