📊 FOMC Minutes Turn Bearish, But U.S. Jobless Claims Offer a Silver Lining

🏛 The July 29-30 FOMC meeting kept interest rates steady at 4.25-5.50%, with most policymakers favoring a hold. Only Michelle Bowman and Governor Christopher Waller supported a modest 0.25% cut to address weakening labor data.

🔑 Key takeaways:

🏦 Fed Stance Hawkish: Minutes show stronger concern over inflation than labor weakness, weighing on markets.

📊 Labor Data Shocks: July job creation came in much lower than expected, erasing 250k previously counted jobs, while the unemployment rate rose and labor participation fell to its lowest since 2022.

📈 Jobless Claims Climb: Weekly claims jumped to 235k, exceeding expectations of 226k — a potential catalyst for future rate cuts.

💡 Bottom line: While Fed minutes signal caution, the labor market’s softening keeps the door open for September rate cut hopes. Markets are watching closely.

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