Agency: Non-farm payroll data, good or bad, can be a reason for Trump to urge interest rate cuts
2025-06-30 02:51:54
Non-farm payrolls are expected to rise by 129,000 in June, the unemployment rate is expected to remain unchanged at 4.2%, the average hourly monthly rate is expected to fall from 0.4% to 0.3%, and the average workweek is expected to remain unchanged at 34.3 hours, according to financial news service Newsquawk. Powell has said that the labor market remains solid, but he has acknowledged that there has been a "very slow and sustained cooling", which is not a cause for concern; Powell also pointed to strong job creation and labor force participation as signs of continued economic recovery. This argument was echoed by other officials. Still, any "not-so-bad" jobs data could be seized on by Trump as a reason the Fed should cut interest rates; but any unexpected downside in labor data could also be used by Trump as a reason the Fed should cut rates. (Jin Ten)
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