WEAK JOBS REPORT TAKES EDGE OFF FED HIKE CASE July’s jobs report showed weaker hiring and downward revisions, reducing pressure on the Fed to raise rates in September. But unemployment fell to a two-year low as fewer Americans looked for work, leaving the picture mixed. For the Fed, inflation remains the bigger concern. Next week’s CPI report could prove decisive: softer inflation would support holding rates, while another strong reading could strengthen the case for a hike.(*Walter Bloomberg)