The US Added Only 73,000 Jobs in July as Rate Cut Odds Soared to 80%
Non-farm payrolls in the US increased by only 73,000 in July, far below expectations, according to data reported by BlockBeats. The jobs report also showed a significant downward revision for the employment figures in May and June, further highlighting the weakness in the labor market.
The weak print quickly shifted market expectations for Federal Reserve policy. The CME FedWatch tool now shows an 80.3% probability that the Fed will cut interest rates by 25 basis points in September, up from 41.3% prior to the jobs report.
Adding to the policy shock, Federal Reserve Governor Adriana Kugler is scheduled to resign next week, giving President Donald Trump the opportunity to appoint new Fed officials sooner than expected.
Analysts say the combination of weak jobs data and political pressure could accelerate the rate cut schedule, a move that could have significant implications for risk assets including Bitcoin, Ethereum, and equities.
