U.S. Shed Jobs in July, Lowering Expectations of a Fed Rate Hike

P.M. Edition for Aug. 7. The U.S. lost 23,000 jobs last month, surprising economists who had expected a gain. WSJ economics reporter Matt Grossman discusses the sectors that saw the biggest losses and gains, and what this latest report means for the Fed. Plus, an appeals court rules that construction on President Trump’s planned White House ballroom must stop. And as New York City has rolled out its new pied-à-terre tax, wealthy homeowners are pushing back. We hear from Journal real estate reporter Rebecca Picciotto about the ways they’re doing it, from lawsuits to potential loopholes. Alex Ossola hosts.