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OEXN: Weak job growth cements Fed rate cut, White House slams Powell’s delay

A weak August jobs report likely sealed an interest rate cut at the Federal Reserve’s Sept. 16–17 policy meeting. The economy added just 22,000 jobs, well below expectations of 75,000, while unemployment ticked up to 4.3%. June’s job growth was revised into negative territory, and July also showed below-trend gains, marking three months of slowing momentum. The disappointing data fueled renewed White House pressure on Fed Chair Jerome Powell. Labor Secretary Lori Chavez-DeRemer urged immediate action, while President Trump derided Powell as “Too Late” on Truth Social. Fed governor Chris Waller has backed a 25-basis-point cut, while economists largely dismissed the prospect of a larger 50bp move. Investors now see a 99% chance of a September cut. Analysts say the key question is not whether the Fed cuts, but whether Powell frames it as the start of a more dovish path or a cautious, limited adjustment.

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Publication date:

2025-09-08 10:52:42 (GMT)

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