Weak Jobs Data Intensifies Calls for Fed Rate Cuts Ahead of September Meeting

A prominent Federal Reserve official is intensifying calls for interest rate cuts, citing the recent weaker-than-expected U.S. jobs report as strong justification. Michelle Bowman, who recently dissented in favor of lowering rates, stated Saturday that the latest labor market data reinforces her belief that the Fed should implement three rate cuts this year.

The jobs report, released just days after the Fed’s last meeting where rates were held steady, revealed significantly fewer hires than anticipated and downward revisions for prior months. This unexpected slowdown in job creation is strengthening arguments for monetary easing to stimulate the economy.

With only three Fed meetings remaining in 2025, including the highly anticipated September session, Wall Street expectations are mounting for a rate cut. Bowman also expressed increasing confidence that current tariffs will not lead to persistent inflation, bringing the Fed closer to its 2% target. The central bank faces the delicate balance of fostering job market strength while controlling inflation, with interest rate adjustments being its primary tool.

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