The consensus among economists is that this morning’s jobs report, showing that the United States added a whopping 272,000 jobs in May, will cause the Fed to leave interest rates unchanged at their current high level when the Fed meets next week. Fed officials still fear the specter of inflation. Average hourly earnings rose 0.4 percent in May from April, and 4.1 percent from a year ago. But it would be a mistake for the Fed to postpone reducing interest rates. Five reasons: The unemployment rate for May ticked up to 4 percent for the first time since January 2022. The household survey (which …