The Fed is expected to cut interest rates for the first time in more than a decade Wednesday, a pre-emptive move as concerns rise about the impact of the trade wars and a slowing global economy.
Friday’s July jobs report should show that the U.S. economy is still strong, with 170,000 nonfarm payrolls being added and an extremely low unemployment rate of 3.7%, according to Refinitiv. That follows this past Friday’s report of second -quarter GDP, which grew at a better than expected 2.1% but showed clear signs of impact from tariffs and trade friction.
