QCP Capital: U.S. employment data may face significant downward revision, market focuses on Powell's speech at Jackson Hole
QCP Capital released a new report stating that Wall Street rumors suggest U.S. employment data may face a downward revision of at least 600,000 people, prompting the market to reassess the Federal Reserve's policy stance. Previously, the Fed had postponed its rate cut plan based on strong job market and economic performance. Industry insiders predict that Fed Chairman Powell will express his views on this issue at the upcoming annual Jackson Hole meeting. However, with one month left until the September Fed meeting, Powell might not make any clear commitments. If employment data is significantly revised downwards or if Powell takes a dovish stance, it could reverse recent stock market gains and push Bitcoin and Ethereum below their support levels.
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