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Jobs Report Sends Mixed Signal on Fed Rates
The July jobs report showed job losses and big downward revisions, but the bigger question is whether the labor market is actually weakening or simply running into a shrinking supply of workers.
Chuck Zodda and Mike Armstrong break down the latest jobs report, why the unemployment rate fell even as the economy lost 23,000 jobs, and why the decline in foreign-born workers may explain much of the recent slowdown in job growth. They also discuss what the report could mean for Kevin Warsh and the Fed, why small rate moves may matter less than markets assume, and how mortgage rates can move…
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