U.S. central bankers won’t likely back off their inflation-fighting campaign, with Friday’s nonfarm payrolls report expected to show continuing strength in the labor market. HeleneBraunn reports on what it means for $BTC
, showed that the labor market is cooling – a positive sign that the Fed’s changes in monetary policy are starting to have an effect.As Harvard Professor Jason Furman summarized in aEmployment Situation report
“The employment number is the most important economic indicator,” said John Silvia, a former chief economist for Wells Fargo who founded Dynamic Economic Strategy.The Atlanta Federal Reserve's GDPNow forecasting model this week shows that gross domestic product probably increased by 2.7% in the third quarter, versus a prediction of 2.3% just a couple of days ago. This suggests that the economy is in good shape to sustain further pain caused by the Fed.
As long as traders don't see a robust report on Friday combined with a strong rise in wages, bitcoin should continue to be stable, according to market analysts.
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