The unemployment rate rose to its highest level in nearly three years, adding to evidence that the labor market’s strength could be on its way to weakness.
The Bank of England cut rates for the first time in over four years, leaving the Fed among a dwindling number of central banks that have yet to cut.
Officials held rates steady, but made an important pivot by highlighting a more equal focus on employment and inflation goals.
Waiting until September to start cutting rates might have narrowed the Federal Reserve’s room for maneuver.
Global Calendar
FRIDAY, AUG 2
- Federal Reserve Bank of Richmond President Thomas Barkin scheduled to appear on PBS's 'Carolina Business Review' (US)
MONDAY, AUG 5
- Australia: Picnic Day in the Northern Territory and a bank holiday in New South Wales (AU)
- US Services PMI (US)
- ISM Report On Business Services PMI (US)
- Employment Trends Index (US)
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FED STATEMENT TRACKER
The Federal Reserve releases a statement at the conclusion of each of its policy-setting meetings, outlining the central bank’s economic outlook and the actions it plans to take.
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