On the eve of the FOMC meeting, the non-farm payroll unexpectedly surged — is the showdown between Trump and Walsh about to begin?
At 8:30 a.m. (UTC+8) on September 4, the Bureau of Labor Statistics released the August Nonfarm Payrolls: 162,000 new jobs were added, about three times the consensus forecast by Dow Jones. As soon as the data came out, the bond market plunged, the US dollar surged, and gold plummeted. Less than an hour and a half later, Trump posted in large characters on Truth Social: threatening to cut off trade with all trade-surplus countries unless interest rates were cut, and even called out to Walsh, “Be a patriot for once.”
And in just 11 days, Walsh will preside over the most critical FOMC meeting since taking office.
The show has already begun.
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