🔥 Barclays: New Data Is Unlikely to Change Powell's Hawkish Stance

🔥 Barclays said in a note on Friday that the recent U.S. jobs data is unlikely to significantly change Federal Reserve Chair Jerome Powell's cautious approach to interest rates, despite increasing market bets on a cut in September.

🔥 The bank told investors that "incoming data, including the recent employment report, does not warrant a significant change in Powell's recent hawkish stance," adding that "it sees no indication that hawkish members of the Federal Open Market Committee are changing their tone."

🔥 The bank still expects one 25 basis point cut in December.

🔥 Market pricing currently reflects "at least a 25 basis point rate cut at the September meeting and more than two cuts before the end of 2025," according to Barclays.