🚨 Last night's financial market was simply a "red storm"! As soon as the US non-farm payrolls data came out, it was so miserable that it caught the market off guard with a "red surprise".
📉 Speaking of this data, it simply added fuel to the speculation of economic recession. The three major US stock indexes collectively "dive" at the opening, and the scene was more agile than that of a diving athlete.
💰 What about the cryptocurrency world? Hehe, it is also "booming", but this boom is not a good thing. It is more like a fire in the hearts of investors, burning people's hearts.
🗣️ President Biden was quite calm, admitting that job growth was a bit slow, but insisting that the overall economic situation was stable. He said that since he and Vice President Harris took office, the United States has added nearly 16 million jobs, and the unemployment rate is enviably low. Income has even outperformed prices. Doesn't it sound great?
💼 But Wall Street bosses are not so optimistic. Nick Timiraos spoke in the Wall Street Journal, saying that the Fed bosses will not easily cut interest rates by 50 basis points unless the economy is really about to collapse.
🗣️ Senator Warren directly called out to Powell on social media: "Cutting interest rates, boss, don't wait!" The urgency can be felt through the screen.
🤔 Allianz's former chief economist El-Erian was also confused. He said that the market trend changed too quickly. Why did the calls for interest rate cuts suddenly become so loud?
📊 Seema Shah of Principal Global Insights has a very clear view of the situation. She said that the labor market is indeed slowing down and the increase in the labor force participation rate is a good thing, but it seems that a rate cut in September is inevitable.
📈 Stuart Cole of Equiti Capital was even more direct, saying that once the non-farm data came out, a rate cut in September was basically a done deal. The market's reaction clearly shows that the Fed is moving too slowly, and if it doesn't cut rates, the next inflation data will have to go through the roof to save face.
🤔 So, whether the interest rate will be lowered or not is still a mystery. We, the spectators, should just sit back and watch the fun! After all, the drama in the financial market is always more exciting than a TV drama!
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