The Federal Reserve may cut short-term borrowing costs again in June after government data showed the economy shed jobs last month, traders bet on Friday.
The surge in global oil prices kicked off by the Iran conflict had raised concerns over a push higher to inflation that is already running above the Fed’s 2% target, with traders pushing the probability of a June rate cut down to only 35% as of minutes before the jobs report. Odds of a rate cut by June are now priced at about 49%.
(Reporting by Ann Saphir; Editing by Toby Chopra)
