Job rate jump 'annihilates' view Fed to hike soon: analyst (by Greg Robb)

WASHINGTON (MarketWatch) -- The spike in the U.S. unemployment rate in May "annihilates" the view that the Federal Reserve would choose to raise interest rates in the near term, said Roger Kubarych, chief US economist at Unicredit Global Research in an interview with Bloomberg television. "That is very recessionary. It is astonishing," he said. "It supports (Fed chief Ben) Bernanke's strong view that there were downside risks to the economy," he said.