U.S. job growth rebounded strongly in June as government hiring surged, but persistent moderate wage gains and mounting evidence that the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month. The Labor Department’s closely watched employment report on Friday suggested May’s sharp slowdown in hiring was probably a fluke. Lack of concrete progress in resolving an acrimonious trade war between the United States and China, however, means the bar could be very high for the Federal Reserve not to lower borrowing costs at its July 30-31 policy meeting. The U.S. central bank last month signaled it could ease monetary policy as early as this month citing low inflation as well as growing risks to the economy from an escalation in trade tensions between Washington and Beijing. President Donald Trump and Chinese President Xi Jinping last week agreed to a […]