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Traders scale back odds of an October Fed rate hike after soft jobs data

The shift follows a jobs report that pointed to a softer labor market, pushing traders to reduce expectations for a Fed funds increase at the month’s meeting.

Reported · Written up by our desk · Central Banks

CNBC Finance reports that traders have cut back their expectations for an October Federal Reserve rate hike after a jobs report signaled a softer labor market.

According to the outlet’s summary, the weak labor data drove down the odds for an increase in the fed funds rate this month.

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