Story perspectives
April Jobs Report Dashes Fed Rate Cut Hopes
5/6/2025
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Story summary
- The April jobs report diminished expectations for a Federal Reserve interest rate cut.
- The likelihood of a cut on May 7 decreased from 5.7% to 1.2%.
- Futures traders estimate a 37% chance of a June cut, down from nearly 80%.
- Nonfarm payrolls increased by 177,000 in April, maintaining an unemployment rate of 4.2%.
- Goldman Sachs forecasts the first rate cut to occur on July 30.
