June nonfarm payrolls only increased by 57k, not even half of expectations. Seema Shah is right—the labor market is still catching its breath, and the Fed's whip won't be easy to wield. Short-term interest rate futures are already betting on September, but the probability of a dovish move in July has genuinely increased.

CoinWorld news: The employment report released by the U.S. Bureau of Labor Statistics on Thursday showed that nonfarm payrolls increased by 57k in June, less than half of economists' expectations. May's employment growth data was also revised down from 172k to 129k. Seema Shah, chief global strategist at Principal Asset Management, said the slowdown in job growth challenges expectations of a labor market recovery and reinforces the view that the Federal Reserve faces little pressure to tighten policy. Currently, short-term interest rate futures traders see the probability of a July rate hike falling below 20%, but the likelihood of a September rate hike remains relatively high.