2 Aug 2024 10:48 pm
Well the fed been trying to cool down the United States economy for almost three years now.*Huey » 02 Aug 2024, 10:46 am » wrote: ↑ Oh, never mind, I see why:
A Labor Department report showed nonfarm payrolls rose by 114,000 jobs in July, sharply lower than the 175,000 additions estimated by economists polled by Reuters. The unemployment rate ticked higher, to 4.3%, from 4.1% a month ago.
With fresh evidence of a weakening labor market, traders are now betting the Federal Reserve will deliver a big half-percentage-point rate cut in September, versus the 25-bps cut expected before the data.
https://nypost.com/2024/08/02/business/ ... ion-fears/
They finally done it.