US Labor Market Loses Steam; May Producer Inflation Comes in Tame

The number of Americans filing new applications for unemployment benefits held at an eight-month high last week, consistent with easing labor market conditions, while slowing domestic demand helped to restrain producer prices in May.

In the absence of economic uncertainty caused by President Donald Trump's aggressive tariffs on imported goods, the softening labor market conditions and benign producer inflation reported by the Labor Department on Thursday would support a move by the Fed to resume its interest rate cuts...

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