Since unemployment was higher than expected and is potentially nearing a cycle high, the CME FedWatch tool reported that bets for a Fed interest rate cut in September improved to 87% on August 1 from 38% on July 31. The Fed held interest rates unchanged at a range of 4.25% to 4.50% on July 30, but not every voting member agreed.

U.S. job growth has slowed to below what’s generally considered healthy, suddenly upending the picture of a balanced job market and increasing support for interest-rate cuts. U.S. employers added just 73,

Despite President Trump ramping up pressure on Federal Reserve Chair Jerome Powell to cut interest rates, the Fed held rates steady at 4.25% to 4.5% on Wednesday, July 30. Trump has been insistent on a major cut all the way down to 1%.