World · Market · United States ·
US job losses in July shift Fed rate expectations downward
The US economy unexpectedly shed 23,000 jobs in July, well below forecasts for an 80,000-job gain and marking the first monthly loss since February. Odds of a Federal Reserve rate hike at its September meeting have fallen below 50% in response.
Why it matters for the crypto market
Weaker employment data shapes near-term Federal Reserve policy expectations, which influence broader macro conditions and risk appetite for crypto markets.
Source: CoinDesk
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