So the Labor Secretary is saying the Fed must "jump in" to cut rates

[lostincalifornia]

"US adds 73,000 jobs, trailing estimates
Payrolls for prior month revised sharply downward
Jobless rate rises even as more leave workforce
Labor secretary says Fed must ‘jump in’ to cut rates"

https://www.bloomberg.com/news/live-blog/2025-08-01/us-employment-report-for-july?srnd=homepage-americas

Of course what is missing from this discussion, and most of the illustrious will not ask the labor secretary or this administration, is that what is happening is a direct result from the tariffs and the policies of this administration, including the mass layoffs from critical services.

[bucolic_frolic]

1. The Foundation of Consumerism is melting underground

Federal and state workers forced from the labor force. Business uncertain what to do. AI fallout not evident yet because businesses don't want to jettison expertise until profits dictate it. Global trade in rebalance but unclear.

One outcome will be consumers start a lot of home businesses, side gigs, PT remote gigs. But most of those businesses will fail from competition, over the long haul.

How long will markets go up? When will they falter from the impact?

[lastlib]

4. Markets are already faltering....

Stocks were down substantially in early trading. Wait'll we see what the bond markets do---it could be seismic.

[Mike 03]

2. Yes, and another thing is based on posts here and my own personal shopping

experience lately, goods inflation (especially food) is becoming obnoxiously noticeable. That argues not only against cutting rates, it suggests that at some point in the future the Fed may have to begin raising again. They are in a really tough spot though.

EDIT: I should have specified "grocery" rather than "food," because I'm including items like paper towels, cleaning products, OTC drugs and nutraceuticals as well.

[Ritabert]

3. Cutting interest rates isn't going to bail out a Trump economy.

Consumers are closing their wallets and lowering interest rates won't help that.

[stopdiggin]

5. pretty much verbatim what we (administration) said a month or so back

when we had a fairly 'good' (and since scaled down?) jobs report.
Curious how the prescription (nostrum) is virtually the same ... Regardless the scenario.

Thank god the Fed is NOT beholden to these shameless hacks ....

[Johnny2X2X]

6. They're amateurs

They will screw this up beyond recognition and blame others.

They simply don't know what they're doing. If they take over the Fed expect a Depression. The Fed may not nail it every time, but at least these people have an idea about what they're doing, if they cave to the trump Administration, the economy is doomed.