The director of the US National Economic Council, Hassett, said in his latest public remarks that both Trump and he himself will respect Federal Reserve Governor Waller’s decisions in the coming period. Meanwhile, the newly released US ADP employment change for the week ending August 29 came in at 16,250, up from 12,000 in the prior week. The White House economic team’s direct messaging combined with a slight improvement on the employment front has once again brought the market’s contest over monetary policy to the forefront.
These developments are worth watching because of the subtle interplay between policy expectations and underlying data. Hassett’s comments, to a certain extent, reflect attention to the Fed officials’ independent stance. And the modest uptick in ADP weekly employment suggests that although the labor market is still in the broader cooling trend, it retains some resilience in the near term—adding more angles for observers as the upcoming policy tone is set.
In traditional financial markets, employment data leaning toward stability along with official statements has kept the US dollar index and US Treasury yields oscillating within a range. Investors are currently in a wait-and-see mode: they are neither making a reckless bet on aggressive rate cuts nor overreacting to concerns that tightening could return with force. Various macro assets are all awaiting clearer signals for guidance.
For the crypto market, in a window where the macro timetable remains uncertain, mainstream assets such as $BTC are more inclined to track broad-market liquidity and move sideways in a consolidation pattern. The long-versus-short positioning on the capital side is relatively balanced. The direction afterward will still depend on the specific statements from the Fed’s key officials and the release of more comprehensive Nonfarm Payrolls data.
#Fed #ADP #CryptoMarket
These developments are worth watching because of the subtle interplay between policy expectations and underlying data. Hassett’s comments, to a certain extent, reflect attention to the Fed officials’ independent stance. And the modest uptick in ADP weekly employment suggests that although the labor market is still in the broader cooling trend, it retains some resilience in the near term—adding more angles for observers as the upcoming policy tone is set.
In traditional financial markets, employment data leaning toward stability along with official statements has kept the US dollar index and US Treasury yields oscillating within a range. Investors are currently in a wait-and-see mode: they are neither making a reckless bet on aggressive rate cuts nor overreacting to concerns that tightening could return with force. Various macro assets are all awaiting clearer signals for guidance.
For the crypto market, in a window where the macro timetable remains uncertain, mainstream assets such as $BTC are more inclined to track broad-market liquidity and move sideways in a consolidation pattern. The long-versus-short positioning on the capital side is relatively balanced. The direction afterward will still depend on the specific statements from the Fed’s key officials and the release of more comprehensive Nonfarm Payrolls data.
#Fed #ADP #CryptoMarket