By all means, raise interest rate in June. With only 38,000 jobs created in May, and downward revisions in two prior months, this is such an opportune moment for the Federal Reserve to move forward with a rate hike in a week, or so. NOT!
Yields on the 10-year Treasury have slipped below 1.75 percent this morning, hardly a sign of an accelerating economy laden with inflationary pressures.
Tune into Power Lunch at 1 pm on Friday June 3. Ron Insana will be a guest.