Soft US Jobs Cast Doubt on September Fed Hike

Jennifer McKeown, Chief Global Economist at Capital Economics, discussed the implications of the recent US labor market report on Federal Reserve interest rate expectations. The report showed a decline in payrolls alongside a drop in the unemployment rate, presenting a mixed picture. Wage growth at 3.2% was softer than expected, which may reduce the likelihood of an imminent rate hike in September. McKeown emphasized that the upcoming July CPI data and the next payroll report before the Septe...