May Jobs Report Gives Fed Room to Wait

JPMorgan's Chief Economist Mike Feroli says the May employment report is almost “tailor-made” for the Federal Reserve. The data supports the Fed’s current strategy of staying patient, watching how employment and inflation evolve before adjusting policy.

Because of this, the upcoming June FOMC meeting is expected to be a non-event, with no major policy changes. The Fed appears comfortable staying on hold for now, letting the data guide its next move.