Driven by the Unexpected U.S. Nonfarm Payroll Data and Other Factors, the Probability of a Fed Rate Cut in September Surges to 80.3%
BlockBeats News, August 3 — This week, the U.S. added only 73,000 nonfarm payroll jobs in July, far below expectations, with significant downward revisions to the May and June figures. In addition, Federal Reserve Governor Kugler will resign next week, allowing Trump to appoint a preferred candidate ahead of schedule.
Possibly influenced by the above news, the probability of a 25 basis point rate cut by the Federal Reserve in September, as tracked by CME's "FedWatch," has surged to 80.3%. Before the nonfarm payroll data was released, this figure was only 41.3%.
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