Non-farm data validates Waller and Bowman’s reasons for interest rate cuts: signs of weakness in the labor market

ChainCatcher news, according to Jinshi reports, U.S. labor data supports calls for monetary easing, leading to a decline in U.S. Treasury yields and the dollar. Meanwhile, previous data has been significantly revised down: May's new jobs were revised from 144,000 to 19,000, and June's new jobs were revised from 147,000 to 14,000.

Before the employment report was released, dissenting Federal Reserve governors Waller and Bowman indicated signs of weakness in the labor market. The employment data caused a sharp drop.