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September 6, 2024
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August US payrolls short of expectations, boosts bigger rate cut view

"The U.S. economy looks more likely to gouge the runway in the months ahead, justifying an increasingly aggressive response from officials at the Federal Reserve," says Corpay chief market strategist Karl Schamotta. "A half-point rate cut at the central bank’s September meeting remains unlikely, but today’s release provided clear evidence of a sharp deterioration in labor market fundamentals, and will bolster bets on at least one jumbo-sized rate cut in the coming months". Reuters: August US payrolls short of expectations, boosts bigger rate cut view