According to Odaily, Phil Camporeale, portfolio manager of global allocation strategy at JPMorgan Asset Management, stated that the U.S. employment report set to be released this Friday may play a crucial role in determining the Federal Reserve's approach to interest rate cuts in its September policy meeting.
Camporeale anticipates that August employment figures will show stronger growth compared to July, which could prompt the Fed to initiate a gradual rate cut of 25 basis points starting in September. He added that a more substantial cut of 50 basis points might signal deeper concerns about the labour market and broader economic conditions.
