Federal Reserve Will Remain Accommodative, Despite Blowout June Jobs Report Says Trader
The Federal Reserve is likely to keep interest rates low for the rest of 2016, despite Friday's better-than-expected June employment figures.
The Federal Reserve is likely to keep interest rates low for the rest of 2016, despite Friday's better-than-expected June employment figures, according to one NYSE trader. Matthew Cheslock of Virtu Financial said the blowout June jobs report doesn't change the central bank's thinking and confirms that the dismal May jobs report, which was revised even lower on Friday, was a fluke. These two factors are positive forces for stocks. The economy added 287,000 jobs in June, beating estimates of 180,000. TheStreet's Scott Gamm reports from the New York Stock Exchange.
