July Payrolls Fall 23,000, Cooling the Case for a September Fed Hike

U.S. employers cut 23,000 jobs in July and revisions erased 103,000 more from May and June, pushing September Fed hold odds to about 60 percent. Prime holds at 6.75 percent.

U.S. employers cut 23,000 jobs in July and revisions erased 103,000 more from May and June, pushing September Fed hold odds to about 60 percent. Prime holds at 6.75 percent.

June core PCE inflation eased to 3.3 percent, its first cooling in months, but a divided Fed that held rates on July 29 keeps the prime rate at 6.75 percent.

The Fed opens its two-day July meeting Tuesday with a rate hike a live possibility. Futures put hike odds near 34% as oil above $100 revives inflation fears.

Brent crude topped $100 and the 10-year Treasury yield hit its highest since January 2025, lifting September Fed rate-hike odds to about 82% as prime holds at 6.75%.

The 10-year Treasury yield settled at 4.55% on July 17, 2026. Here is what the benchmark is, what moves it, and how it sets your mortgage and loan rates.

The U.S. national debt closed above $39.5 trillion for the first time on July 16, 2026, finishing at $39.519 trillion after adding $510 billion in 59 days.

June CPI fell 0.4%, the first monthly price decline since April 2020, cutting inflation to 3.5% and hardening the case for a Fed hold on July 28-29.

The Fed's first Monetary Policy Report under Chair Kevin Warsh vows to deliver price stability, revives a money supply section, and sets up his July testimony.

The June FOMC minutes reveal a Fed split between holding and hiking, with a few officials making a case for higher rates as inflation holds near 4 percent.

Eight meetings a year, twelve votes, one 2 p.m. statement. Here is how an FOMC meeting actually works and what the July 28-29 session could mean for your rates.