#employment-data

#employment-data

On Dec. 10, the Federal Reserve voted to lower the federal funds rate by 25 basis points. A basis point is one one-hundredth of a percentage point. Mortgage lenders had been expecting a cut, and mortgage rates had fallen in the weeks ahead of the meeting. This move was largely predicted by analysts, despite tensions among central bankers. Still, the path to cutting was not unanimous or obvious.

The US dollar extended its slide on Monday, trading near multi-week lows, as investors positioned ahead of a heavy data calendar. With the Labour Day holiday keeping activity subdued, traders looked toward the August employment report and related labour market releases that could determine the Federal Reserve's next move. On the political front, a federal appeals court ruled that most of President Trump's reciprocal tariffs are illegal, granting the administration until mid-October to appeal.

Doak stated that employment was rising during the Great Depression; however, Ethelbert Stewart contradicted his claims, stating the statistics warranted no such declaration.

Trump has the opportunity to influence economic policy through key appointments: the head of the Bureau of Labor Statistics and a Federal Reserve Governor. Both positions have recently become available.