US April non-farm employment report exceeded expectations. Although it boosted US stocks and cryptocurrency markets, it also dampened market expectations for the Federal Reserve's rate cut in June.
Nick Timiraos, a Wall Street Journal reporter known as the "Fed's mouthpiece", directly stated that the job market has not shown signals "requiring a rate cut", and officials are likely to continue observing until a more definitive turning point emerges.
Extended Reading: US April Non-Farm Exceeds Expectations! Bitcoin Approaches $98,000, S&P 9-Day Winning Streak Creates 20-Year Record
Timiraos: June Rate Cut Chances Significantly Reduced
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating to English.]More Data Needed to Monitor Interest Rate Reduction Process
The April non-farm payroll report is the last labor market indicator before the Federal Reserve's May meeting. The data shows that the U.S. economy has not significantly slowed down, and there is no short-term pressure forcing the central bank to lower interest rates. Next, the market will focus on price data such as CPI and PCE, as well as statements from Federal Reserve officials, to determine whether July will truly become the starting point for policy shift.
Amid the tug-of-war between inflation and employment, the expectation of interest rate reduction has not been shattered, but has become more cautious.
