The July jobs report was a disappointment, with the US adding 114,000 and the unemployment rate rising to 4.3%. Claudia Sahm, chief economist at New Century Advisors and former Federal Reserve Board economist, joins Yahoo Finance to discuss how the jobs report may impact the Federal Reserve's rate decisions.

"My base case is... they're going to get going in September," Sahm says, "it's pretty clear that its necessary." Sahm adds that "this labor report is really disconcerting, it is not a crisis."

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This post was written by Mariela Rosales.