us-june-payrolls-miss-market-expectationsA · FULL TRANSLATION
# US payrolls# Fed policy
Key Points
- June US payrolls came in below market expectations
- Cooling labor data deepens the Fed's dilemma
Analysis
June US payrolls missed expectations, adding a cooling signal just as energy costs stir inflation — deepening the Fed's dilemma and keeping the US-Japan rate gap the yen's dominant variable.