“The U.S. labor market is steadily losing steam as evidenced by the staggering downward revisions and a declining labor force participation rate,” Bullard added. This slowdown should feed through to hiring and business investment activity, and lead to soft, yet still positive, GDP growth in the second half of the year.”

Six months into his comeback term, Donald Trump has taken full ownership of the US economy. For better or worse, his party must now sell it to voters.

US President Donald Trump has fired the boss of one of America's most important economic institutions hours after weaker-than-expected jobs data stoked further alarm about his tar