#美联储利率政策 Non-farm payroll report is coming next week, and these data are really interesting. Citibank says that in October, 45,000 jobs might be cut, but in November, there could be a rebound with an increase of 80,000 jobs. It sounds quite contradictory. But economists have straightforwardly pointed out that this rebound is mainly due to seasonal adjustments, not a real improvement in job opportunities.

What’s more painful is that the unemployment rate is expected to rise from 4.4% to 4.52%, and the Federal Reserve’s own forecast also indicates that the unemployment rate will be around 4.5% by the end of the year. This is quite awkward—The Fed just cut interest rates to a three-year low, and internally, there are still debates on how to deal with high inflation and weak employment. Yet, the employment report might continue to send mixed signals.

In plain terms, the market is now caught in the middle. Inflation hasn’t been fully subdued, and employment is starting to weaken again. Policy makers are definitely feeling the pressure. When such contradictory signals emerge, the crypto circle will probably have to go through another round of turbulence. Everyone, hold onto your wallets and watch how the market reacts.