V i e w p o i n t | 01 Aug 2025 11:07:02 ET │ 12 pages US Economics Soft jobs post-FOMC, like deja vu all over again CITI'S TAKE Weakness that has been evident in details of labor market data was thrust into the headline numbers today with large 258k downward revisions to the last two months of payroll growth. Just like last year, the Fed now has a long wait to a very-likely cut in September. In our base case the Fed will cut 25bp but a 50bp cut is possible if the August jobs report is also weak. The unempl ...