Overview
- U.S. employers added 147,000 jobs in June and unemployment fell to 4.1%, exceeding expectations despite private payroll softness.
- Private sector payrolls saw their smallest monthly increase since October, highlighting uneven labor-market conditions.
- Traders cut the odds of a July rate cut to 5% and reduced September cut probabilities to 68%, according to the CME FedWatch Tool.
- Federal Reserve officials signaled plans to leave interest rates unchanged this month as they await clearer signs from tariffs on inflation.
- President Trump escalated public pressure on Fed Chair Jerome Powell, demanding his resignation through Truth Social posts.