 We want to be more confident, and frankly, because the U.S. economy is strong and the labor market is strong, we have the ability to take our time and get this right. Fed officials are keeping a close eye on the labor market for any sign of softening, which might point to a need for more rapid rate cuts. The Labor Department has set a report Friday on job gains and the unemployment rate for June. Scott Horsley, NPR News, Washington.