Caught in that bind, Fed Chair Jerome Powell may have been comforted by government data on Friday showing a healthy 177,000 jump in April payrolls. As long as the labour market holds firm, the Fed can more easily justify standing pat.
Things are getting awkward for the US Federal Reserve.
With their eye on inflation, officials are inclined to hold rates steady when they meet in Washington on Tuesday and Wednesday. But fears of a slowdown are mounting, and US President Donald Trump and some of his deputies keep hammering the central bank for an interest-rate cut.
