U.S. Added 353K Jobs in January, Blowing Past Estimates
The latest update on the labor market came less than two days after the Fed’s Jerome Powell poured cold water on market hopes of a rate cut in March.
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Employment
The latest update on the labor market came less than two days after the Fed’s Jerome Powell poured cold water on market hopes of a rate cut in March.
The closely watched report
Anticipating a slowdown in the economy and easier Fed monetary policy, investors have sharply bid down interest rates in the weeks leading up to this morning’s numbers.
A recent dovish shift in the outlook for monetary policy has played a sizable role in big gains for both crypto and traditional markets.
Interest rates have fallen sharply this week across the U.S. yield curve, in part as traders place bets the Fed is finished tightening monetary policy.
The unemployment rate TKTK
With spot bitcoin ETF aspirations sidelined after the SEC yesterday pushed off decisions on a raft of new applications, crypto bulls are hoping an employment slowdown and lower interest rates could provide a positive catalyst.
The unemployment rate TKTK to 3.X% versus estimates for 3.6%.
The unemployment rate TKTK to 3.X% versus 3.7% in June and against expectations for 3.7%.