Citi 'increasingly convinced' that the Fed will cut rates by 50 bps in September
The U.S. economy reported an increase of 142,000 new jobs in August, falling short of the anticipated 160,000 jobs.
Average hourly earnings saw an unexpected rise of 0.40% month-over-month, with gains observed across various sectors. Analysts from Citi have expressed concerns regarding the latest jobs report. They highlighted that the below-consensus figure of 142,000 new jobs, coupled with the downward revisions for previous months and an almost static unemployment rate, did not meet expectations for a recovery from the July slowdown.
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