BARCLAYS: JOBS DATA WON’T SWAY POWELL’S HAWKISH STANCE Barclays said Friday that recent U.S. jobs numbers are unlikely to change Fed Chair Jerome Powell’s cautious approach on rates, despite markets betting on a September cut. The bank expects only one 25bp cut in December and thinks investors are overly confident about a September move, misreading the Fed’s view of labor market strength. Powell recently called policy “only modestly restrictive” with a “solid” labor market. Even with July’s slower job growth and 4.2% unemployment, Barclays sees no sign hawkish FOMC members are shifting. September remains a “close call,” but the bank will watch Jackson Hole remarks for clues.(*Walter Bloomberg)