According to BlockBeats, the ADP National Employment Report released Wednesday, March 4th, showed that U.S. private sector employment rose more than expected in February, but the previous month's figure was significantly revised downward. Private sector employment increased by 63,000 last month, while January's figure was revised down to 11,000 from the previously reported increase of 22,000. The data may indicate that although the labor market was shaken last year due to uncertainty caused by import tariffs, it has now stabilized. The stability of the labor market and still high inflation are seen as factors encouraging the Federal Reserve to keep interest rates unchanged this month.
Furthermore, the US-Israeli air battles against Iran and retaliatory actions by Tehran have driven up oil and gas prices, prompting traders to lower their expectations for interest rate cuts this year due to concerns that the conflict could fuel inflation. Currently, the likelihood of a rate cut in June has significantly decreased. The US Federal Reserve kept its benchmark overnight rate in the 3.50%-3.75% range in January. (Jinshi)
