Top Fed officials unswayed by poor July jobs report, take wait-and-see approach to rate cuts

Several senior Federal Reserve officials on Friday characterized the labor market as “solid” even after a poor July jobs report, and appeared in no rush to lower U.S. interest rates.

“I would say the state of the labor market is one … I would describe as solid, but we’re definitely seeing a slowing of job growth,” said John Williams, president of the New York Fed,

in an interview Friday with the Wall Street Journal.