Fed seen cutting rates by half a point in Sept, after weak jobs data
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FILE PHOTO: The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo
(Reuters) - Traders bet on Friday that the Federal Reserve will start easing policy in September with a big half-percentage-point interest rate cut, after government data showed employers added far fewer workers than expected last month, and the jobless rate rose. Interest rate futures contracts now reflect about a 70% chance seen of a half-percentage-point rate cut next month, versus what was seen before the report as a 70% chance of a more usual quarter-point cut.
(Reporting by Ann Saphir; editing by Mark Heinrich)
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