How Tariffs Are Undermining the US Economic Growth Story
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Friday’s release of US jobs data continued a trend that emerged with July’s weak employment growth and significant revisions for prior months. With just 22,000 jobs added in August, the labor force again surprised forecasters on the downside. Revised June numbers pointed to the first monthly contraction since the Covid pandemic.
The US growth story is wobbling, in other words. Which explains why so many people are convinced Federal Reserve policymakers will decide to cut interest rates at their meeting later this month.