October jobs surge raises odds of December Fed rate hike
Photo: Crypto Briefing
A strong U.S. jobs report for October has intensified speculation about a potential interest rate hike by the Federal Reserve in December. The nonfarm payrolls increased by 165,000, significantly surpassing the consensus forecast of 65,000, and the unemployment rate dropped to 4.1%. This has led to a noticeable shift in futures markets, with the probability of a 25-basis-point hike now estimated between 76% and 79%, up from around two-thirds prior to the report’s release. The Federal Reserve’s current target range for the federal funds rate stands at 3.75% to 4.00%, following its last hike in September.
Source: Crypto Briefing
