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Jan 10 - Wall Street's main indexes were set to open lower on Friday after a better-than-expected jobs report fanned expectations that the Federal Reserve will take a measured approach to monetary policy easing this year.
Traders now see the central bank lowering borrowing costs for the first time in June and then staying steady for the rest of the year, according to the CME Group's FedWatch Tool. "It's a good news report. It's very positive for the economy, but the markets are worried that a strong economy is going to be inflationary," said Thomas Martin, senior portfolio manager at Globalt Investments.
U.S. stocks ended little changed on Wednesday with investors digesting conflicting sets of jobs data and a report that President-elect Donald Trump was mulling an economic emergency declaration on inflation. Voting members on the Federal Open Market Committee have voiced the need for a measured approach to lowering borrowing costs this year, the latest being St. Louis Fed President Alberto Musalem according to a report.
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