The WSJ Fedwatcher on what the jobs report means
When Janet Yellen took the Fed helm she shook up the public relations staff and cut off whatever access Hilsenrath or the WSJ ever had.
Yet many traders still hang on his every word despite sending a series of misleading, and usually hawkish, signals over the past two years.
"In sum, the employment report increases the chances of a Fed rate increase in September, but officials are likely to remain in a wait-and-see mode until then, and will likely pass on moving in July. They want to see follow-through and to be sure the economy is really on its feet after a volatile first half, and they also want to be sure markets are stable in the wake of Britain's vote to leave the European Union," Hilsenrath writes.
