May employment data showed 139,000 jobs added, higher wages, and unemployment at 4.2%. But despite some asterisks to the numbers, there’s no reason for the Fed to cut interest rates soon.

Yes, the Federal Reserve could cut interest rates later this year. Or, maybe it won't. In any case, a Fed reduction offers no guarantee that mortgage rates will go down.

Federal Reserve Board of Governors member Adriana D. Kugler offered a cautiously steady assessment of the U.S. economy Thursday in a speech to the Economic Club of New York, signaling a federal funds rate cut is unlikely for now,