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El-Erian Says Strong Jobs Data Closes Door on July Fed Rate Cut
News June 07, 2024 at 11:29 AM
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What You Need To Know
- Nonfarm payrolls climbed 272,000 last month versus the 180,000 forecast by economists.
- There is no way the Fed can signal a cut regardless of the CPI number reported next week, Allianz's chief economist says.
- A too-quick move by the Fed would be tough to correct, he says.
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