US non-farm payrolls rose by only 73,000 in July, far below expectations, according to data reported by BlockBeats. The jobs report also showed significant downward revisions for May and June employment figures, further highlighting labor market weakness.
The weak print immediately shifted market expectations for Federal Reserve policy. CME’s FedWatch Tool now shows an 80.3% probability that the Fed will cut rates by 25 basis points in September, up from 41.3% before the jobs report.
Adding to the policy shake-up, Federal Reserve Governor Adriana Kugler is set to resign next week, giving President Donald Trump the opportunity to appoint a new Fed official sooner than anticipated.
Analysts say the combination of weak employment data and political pressure may accelerate the timeline for rate cuts, a move that could have major implications for risk assets including Bitcoin, Ethereum, and equities.
