U.S. July Nonfarm Payrolls Added 114,000 Jobs, Well Below Expectations, Unemployment Rate Rises to 4.3%, Highest in Nearly Three Years

The "New Fed Communications Agency" stated that no one doubts a rate cut in September now; the question is whether the Fed will cut by 25 basis points like in 1995, 1998, and 2019, or by 50 basis points like before the recessions in 2001 and 2007.

Wall Street's rate cut expectations have changed dramatically, with Goldman Sachs predicting three rate cuts this year, Citi calling for two 50 basis point cuts, and JPMorgan forecasting the possibility of an emergency rate cut.