Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why the Fed Watches the Jobs Report So Closely
When the July jobs report hit the wires on August 7, 2026, the headline number was a surprise: the U.S. economy lost 23,000 jobs, the first negative print in years. Lucas and Luna unpack what that actually means for the Federal Reserve's next move, digging into the details beneath the headline—from the drop in private payrolls to the steady unemployment rate at 4.1 percent. They explain why the Fed is likely to look through a single soft month, why the bond market is already pricing in a rate cut, and what the yield curve is telling us about the path ahead. With inflation cooling and the…
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