Economy: US job market recovering – Trump calls for interest rate cut
In July, a surprisingly large number of jobs in the US had been lost. Now the job market is proving to be significantly more robust. This is likely to have an impact on interest rate expectations.
The US job market saw a significant recovery in August, with 162,000 new positions created, according to a government report. This exceeded the 56,000 forecasted by economists polled by Reuters. The unemployment rate remained steady at 4.1 percent, as expected. The data is crucial for the Federal Reserve's monetary policy decisions, with Fed Chair Kevin Warsh describing the job market as "quite stable" but expressing concerns about high inflation. The Fed's benchmark interest rate currently stands at 3.50-3.75 percent.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
