Trump-Fed Showdown: Rate Hike Odds Soar Amid Jobs Data Uncertainty

President Trump is at odds with the Federal Reserve over interest rates, with markets now pricing in a September rate hike despite his calls for lower rates.

The August jobs data will be crucial in determining whether the Fed hikes or pauses next, with weak numbers potentially reversing the trend and supporting a risk-on move across crypto markets.

Trump has repeatedly stated that current interest rates are too high, but Fed Chair Kevin Warsh undercut this message at Jackson Hole by saying he'd have trouble describing broad financial conditions as restrictive. This sparked an increase in rate hike odds from 35% to 66%, according to traders.