Economy: Federal Reserve Hesitates on Interest Rate Cut as Economic Data Wavers
New York City, NY – With the Federal Reserve projecting only one interest rate cut this year, concerns are rising among economists that the move may come too late. Recent data on consumer spending and labor market trends suggest that the economy may be slowing more than anticipated. In May, retail sales showed signs of cooling down, easing worries about an overheated economy fighting inflation. However, the unemployment rate reached 4%, its highest level since …