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16:15
US Jobs Data Eases Fed's Dilemma, Market Cuts Rate Cut Bets
On April 4th, the number of non-farm payrolls in the United States for March saw the largest increase since the end of 2024, and the unemployment rate unexpectedly declined. "The Wall Street Journal's" Fed reporter, Nick Timiraos, pointed out that this data has temporarily eased the difficult policy dilemma of "protecting employment or controlling inflation." The interest rate swap market shows that expectations for rate cuts within the year have fallen from pricing of about 4 basis points before the report's release to nearly zero, and bets on rate cuts next year have also narrowed.
16:14
Federal Reserve's Daly: Fed Should Focus on Employment Rates, Not Jobs Data
BlockBeats News, April 4th, Federal Reserve's Daly stated that the economy no longer needs to create a large number of jobs as before to maintain the same proportion of the population's employment rate. In this environment, monthly hiring data no longer accurately reflects the health of the labor market. The unemployment rate may be a better measure. She stated: "Ratios and indicators such as the employment-population ratio, the unemployment rate, the quit rate, or the hiring rate can reflect changes in the size of the workforce, thus more clearly reflecting the health of the labor market." (FX678)
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