The Federal Reserve may choose to keep interest rates unchanged at its upcoming meeting following a weaker-than-expected jobs report for July and signs of cooling inflation. The U.S. economy lost 23,000 jobs in July while the unemployment rate rose to 4.1%, with previous months’ figures revised downward. The Fed’s target interest rate range currently stands at 3.50%–3.75%. Market expectations for a rate hike in September have dropped from 60% to 35.5%.
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