US Unemployment reaches 49-week low, Fed likely to raise rates
- US Market
- 5 months ago
American are filing less applications for job benefits, reaching a 49-week low, indicating that the Fed is more likely to raise rates once more as expected next week.
Chief economist at MUFG Chris Rupkey stated, “Markets can breathe a sigh of relief that the economy is not going all wobbly.”
“No inflation pressures building and a tight labor market is news that tells the Fed they are right to continue to raise interest rates at next week’s meeting.”
The Fed sees the labor market as almost in full force as the unemployment rate hits 3.7%, as a result U.S. Treasury Yields were still mixed as traders digested the ECB’s announcements.
However, the greenback surged up against various currencies and so where U.S. indexes.
Source: Smart Trend Team