Scott Horsley

The Fed lowered interest rates at each of its last two meetings, but policymakers were divided on whether a third straight cut would be warranted this coming week, inflation still well above the Fed's 2 percent target, which would ordinarily suggest keeping rates higher.

But the central bank's also concerned about a softening job market, which could be cushioned with lower interest rates.

Investors think those job market worries will take priority at this week's meeting, and the rate-setting committee will opt for another quarter-point cut.

But the decision is not likely to be unanimous.

The six-week government shutdown added to the uncertainty by delaying some key economic reports until after this week's meeting.

Scott Horsley, NPR News, Washington.

U.S. employers added 139,000 jobs in May, down slightly from the previous month. Job gains for March and April were revised down by a total of 95,000 jobs. There was a sizable drop in the workforce last month as 625,000 people stopped working or looking for work. The unemployment rate was unchanged at 4.2 percent. Many of the jobs added in May were in health care and hospitality.

U.S. employers added 139,000 jobs in May, down slightly from the previous month. Job gains for March and April were revised down by a total of 95,000 jobs. There was a sizable drop in the workforce last month as 625,000 people stopped working or looking for work. The unemployment rate was unchanged at 4.2 percent. Many of the jobs added in May were in health care and hospitality.

The manufacturing sector cut 8,000 jobs last month, and retail employment fell by 6,500. Average hourly wages in May were up 3.9 percent from a year ago. Wages have been climbing faster than prices for the last two years. Scott Horsley, NPR News, Washington.

The manufacturing sector cut 8,000 jobs last month, and retail employment fell by 6,500. Average hourly wages in May were up 3.9 percent from a year ago. Wages have been climbing faster than prices for the last two years. Scott Horsley, NPR News, Washington.

Live from NPR News in Washington, I'm Jack Spear. President Trump is traveling to Pittsburgh today to celebrate a deal between U.S. Steel and the Japanese company Nippon Steel. As NPR's Tamara Keith explains, there are still a lot of missing details.

Live from NPR News in Washington, I'm Jack Spear. President Trump is traveling to Pittsburgh today to celebrate a deal between U.S. Steel and the Japanese company Nippon Steel. As NPR's Tamara Keith explains, there are still a lot of missing details.

His short but turbulent involvement in the U.S. government coming to an end. President Trump today gave billionaire Elon Musk a send-off at the White House. Trump praising Musk for his role as government cost-cutter-in-chief. Musk sported a Dogefather t-shirt and stood by as Trump did most of the talking. Musk returns to running his companies at a time his association with politics.

His short but turbulent involvement in the U.S. government coming to an end. President Trump today gave billionaire Elon Musk a send-off at the White House. Trump praising Musk for his role as government cost-cutter-in-chief. Musk sported a Dogefather t-shirt and stood by as Trump did most of the talking. Musk returns to running his companies at a time his association with politics.

has clearly damaged the brand of his electric vehicle company, Tesla. In Kentucky, one person was killed, at least seven others injured today when a powerful tornado touched down just before 7 this morning in the central part of the state. John McGarry of member station WEKU has more.

has clearly damaged the brand of his electric vehicle company, Tesla. In Kentucky, one person was killed, at least seven others injured today when a powerful tornado touched down just before 7 this morning in the central part of the state. John McGarry of member station WEKU has more.

Inflation was lower in April than forecasters anticipated. NPR's Scott Horsley has more.

Inflation was lower in April than forecasters anticipated. NPR's Scott Horsley has more.

You're listening to NPR. PBS has now joined NPR in filing suit against the Trump administration. PBS and a public television station in rural Minnesota filing suit today over the president's executive order demanding the Corporation for Public Broadcasting kill all funding for the network.

You're listening to NPR. PBS has now joined NPR in filing suit against the Trump administration. PBS and a public television station in rural Minnesota filing suit today over the president's executive order demanding the Corporation for Public Broadcasting kill all funding for the network.