Washington CNN —
Economists and top policymakers at the Federal Reserve see a growing risk of America’s job market weakening because of President Donald Trump’s erratic trade war, according to minutes from the central bank’s latest policy released Wednesday.
“The labor market was expected to weaken substantially,” the minutes said, adding that Fed economists at the May 6-7 meeting also revised up their projections for inflation this year and lowered their expectations for economic growth. Fed policymakers also fretted over whether the labor market’s resilience could persist, especially if Trump continues with his haphazard on-again, off-again tariff regime.
“Participants assessed that there was a risk that the labor market would weaken in coming months, that considerable uncertainty