The latest U.S. Initial Jobless Claims came in at 237K, which is higher than expected (230K) and also higher than last month (229K). This means more people are applying for unemployment, showing the job market is getting weaker. A weaker job market is generally bad for the economy, but it could push the Federal Reserve to cut interest rates sooner to support growth. If the Fed cuts rates, it usually makes the U.S. dollar weaker but is often good for stocks and crypto, because lower rates encourage investing in risk assets…
That’s why the odds of a rate cut this month are increasing. Fed cannot compromise when it comes to unemployment!
That’s why the odds of a rate cut this month are increasing. Fed cannot compromise when it comes to unemployment!
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