Fed traders betting 80% on September rate cut after jobs report missed by 37,000
Key Points
- U.S. job growth significantly missed expectations in July, a...
The July jobs report landed with all the grace of a lead balloon at a helium convention. The U.S. economy added just 73,000 jobs when economists expected 110,000, marking the kind of miss that makes forecasters question their life choices and traders reach for stronger coffee.
But wait, there's more bad news hiding in the fine print. Previous months got the revision treatment, losing over 250,000 jobs that apparently existed only in Excel spreadsheets and optimistic dreams. It's like finding out your favorite restaurant has been serving food that was never actually cooked.
When Numbers Go...
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