Federal Reserve Chair Janet Yellen will likely downplay last week’s dismal May jobs report in her speech in Philadelphia on Monday, according to one expert. ‘I think she’s just going to remind everybody that this is one data point of many that the Fed is looking at and one data point does not constitute a trend,’ said David Lebovitz, global markets strategist at JPMorgan Asset Management. While Lebovitz isn’t sure if the Fed will hike rates in June, he thinks a move in July is still on the table. ‘There’s still plenty of data which could come out in the next few months which could sway them one way or the other,’ he said. TheStreet’s Scott Gamm reports from Wall Street.
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