Steady Job Market Keeps Fed on Hold Amid Tariff Uncertainty

Unexpectedly solid job gains in June bolstered the case for the Federal Reserve to keep interest rates on hold to keep downward pressure on inflation, with one U.S. central banker saying it could take a year or more for the economy to adjust to the Trump administration's tariff and other policies.

"The main punchline is that the adjustment of prices and the broader economy to changes in trade and other forthcoming policies in the United States, along with geopolitical developments, is not going to be a short and simple one...

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