US Jobless Claims Bolster Case For September Fed Cut

If you were looking for additional evidence to support the notion that the Fed's almost guaranteed to cut rates in September, you were in luck on Thursday. Initial US jobless claims jumped 20,000 in the week to July 13, the latest update showed. That was among the largest increases of 2024 and pushed the headline up to 243,000, tied for the highest print since August. Consensus expected 229,000. The increase came on the heels of a meaningful decline the prior week. The four-week moving aver