Hiring unexpectedly surges in June amid Trumps tariffs
June saw unexpected job growth of 147,000, lowering unemployment to 4.1% despite Trump's tariffs. Federal jobs declined due to DOGE. Manufacturing was stagnant. The Fed is cautious, weighing potential tariff-induced stagflation. Retailers fear price increases. Powell signaled openness to interest rate cuts soon, with most Fed members supporting cuts this year.
