Economic TimesLean R·
Bets on US Federal Reserve rate hike in October fall as job market cools
Weaker-than-expected jobs growth in the US pushed traders to reduce bets on another interest rate hike by the Federal Reserve this year.The US economy added 29,000 jobs last month, the Labor Department reported, well below economists’ estimate of 90,000. Payroll growth for August was also revised lower, while the unemployment rate edged up to 4.2% from 4.1%.For live updates on US Markets, click hereThe employment data prompted traders to scale back expectations for another Fed rate increase. In…
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