🇺🇸 Tonight's jobs data and non-farm payrolls could strongly influence the Fed's interest rate decision in September 🇺🇸
Recently, Eric Diton, Chairman and CEO of Wealth Alliance, expressed his views on the Federal Reserve's recent moves on the economic development outlook.
Diton said he was confident the Fed would cut interest rates by 25 basis points this week but the Fed missed that. He noted that jobless claims data and the ISM index had underperformed for the fourth straight month, and Powell indicated that tonight's nonfarm payrolls data would be important. If tonight's nonfarm payroll data is weak, the Fed is likely to cut interest rates by 50 basis points in September.
In addition, Diton also mentioned concerns related to the Federal debt of up to 35 trillion USD.
