Jeff Cox: Labor Market Softens as Fed Prepares a Rate Cut

The U.S. job market is showing signs of significant shifts, with August 2024 witnessing the highest layoffs for that month in 15 years, while year-to-date hiring hit a historic low. These trends, highlighted in the recent Challenger, Gray & Christmas report, are all coming ahead of an expected interest rate cut that the Fed is considering for September. Jeff Cox from CNBC talks with Boyd about what to be watching for.