The Federal Reserve is likely to resume lowering interest rates in September, but it won’t be an easy call for the central bankers, economists said Thursday in the wake of the June jobs report.

The latest labor market data released on Thursday reinforces the central bank’s wait-and-see approach to lowering borrowing costs, despite pressure from President Trump.

Financial market bets rose that the Federal Reserve could start interest-rate cuts as soon as this month after Fed Chair Jerome Powell, asked if July was too soon to consider rate cuts, said he "can't say" but that the decision would depend on the economic data.