UBS raises the question of Fed rate hikes after the super-strong jobs report (says ‘No’)

UBS raised the question … sometimes just raising the question is worrying enough.

To cut to the chase UBS says a rate hike won’t happen.

• “Overall, we keep our view that the U.S. economy is slowing”
• Rate hikes are unlikely, while the report was stronger than expected but is still not enough to warrant any rate hikes in the near future

UBS is forecasting an FOMC rate cut in September, then one more cut before year-end.

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The NFP data is linked in here:

• Forexlive Americas FX news wrap 7 Jun”: US adds 272K new jobs but unemployment rate rises

The Federal Open Market Committee (FOMC) meet this week, statement due at 2pm US Eastern time on Wednesday, Powell’s presser follows a half hour later.

This article was written by Eamonn Sheridan at www.forexlive.com. Source