TechFlow, August 1 - According to Jinshi Data, 2026 FOMC voting member and Cleveland Fed President Harker was interviewed by Bloomberg, describing Friday's nonfarm payrolls report as "disappointing," but said it doesn't mean the Fed should cut rates at this week's policy meeting. He stated, "I am confident in the decision we made earlier this week. Although July's employment data came in weaker than expected, we must look at the full picture. When I review the current situation, I find the labor market remains fundamentally balanced. Again, today's report is just one report. With inflation still too high, monitoring labor conditions is crucial."
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