A labor market firing on all cylinders has briefly reignied bullish sentiment in the crypto world
community. The figures not only surpassed the three-month average of 283,000 jobs but also saw an upward revision in April and March by 41,000 and 52,000, respectively.Yet, economists found themselves entangled in deciphering its potential repercussions on inflation and the Federal Reserve's ensuing policy maneuverings.
The labor market, in its current blistering trajectory, threatens to exert upward pressure on prices, thus making the Fed reinstate price stability. Hence, there is a cloud of ambiguity over the prospect of another interest rate hike by the Fed. According to the assessment by ING Economics, in spite of the mixed sentiment reverberating from the U.S. jobs report, market sentiment appears inclined toward the Fed, forgoing a rate hike in the forthcoming month. Nevertheless, a surge in core inflation on the cusp of the Fed's decisive meeting could upset the balance.
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