I think that at the moment there are no valid reason to cut rates.
And on Friday, when JPow spoke at Jackson Hole, the market reacted abruptly as the move wasn’t priced in. The erratic behaviour of Trump mad the market backpedal a little, this meaning it is all fabricated.
The weakness in the US jobs market might be one of the reasons why rates might be cut in September. Jerome Powell sounded civil and dovish in his recent address in Jackson Hole, Wyoming. There was no emphasis on the negative effects of Trump’s tariffs. It seems political pressure has started to influence the Fed's decisions. I expect at least a 25 basis point cut this September.