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August 12, 2025

Does dour jobs data back rate cut?

NEW YORK (AP) — A top official at the Federal Reserve is saying that this month's stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Michelle Bowman pointed to July's hiring slowdown, along with her belief that inflation is heading down toward 2% despite President Donald Trump's tariffs.


 
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