Julius Baer: Fed faces conundrum as US has reached full employment yet wage growth is flat

With the June employment report showing that job creation remains healthy and the US economy may have reached full employment, the Federal Reserve faces a conundrum since wage growth has remained anaemic, according to Julius Baer economist Susan Joho. In June, 222,000 non-farm payrolls were created in the US, following an upwardly revised 152,000 jobs in May. This means that…

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