Bureau Of Labored Statistics
By Bas van Geffen, senior market strategist at Rabobank
Non-farm payrolls came in at just 73,000 jobs last month. Moreover, revised estimates for May and June came in at just 19k and 14k. This means that 258,000 fewer jobs were created in those two months than initially estimated.
So, Friday’s employment report was very disappointing, to say the least. It supports the argument of the two dissenting FOMC members, namely that the labor market outlook may be weaker than the Fed thought. It certainly raises the probability of a rate cut when the Fed’s policymakers meet again in September – something the market had started to doubt after last week’s policy decision.
Yet, Trump wasn’t exactly happy. The US president wants the central bank to cut rates. But he does not want lower rates because of concerns that the economy is cooling down. In fact, Trump either does not believe the statistics, or he really does not want to hear them. Following the poor employment report, President Trump capacity constraints as a result of budget cuts.
Because Trump will get an early opportunity to take more control of the Fed. On Friday, two Nuclear Submarines to be positioned in the appropriate regions, just in case.”
Russia and China have started joint military exercises in the Sea of Japan. These war games were planned well before the escalatory rhetoric between Trump and Medvedev, but they do underscore deepening Russia-China ties.
Meanwhile, China’s control over critical raw materials is biting the US’ military dominance. Even though Beijing has loosened export controls on rare earths after the US and China agreed to a trade truce, the Wall Street Journal reports that manufacturers of military equipment still Tyler Durden Mon, 08/04/2025 – 10:15
Source: https://freedombunker.com/2025/08/04/bureau-of-labored-statistics/
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