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While news headlines often focus on whether the employment data “exceeded” or “fell short” expectations, this reporting style overlooks a more important point. Monetary policy is not based on a single data point. More importantly, the non-farm payroll report is just one of many factors considered in the Federal Reserve’s decision-making process, and it is not the most influential one. To understand what the data actually means for interest rate expectations, it’s helpful to look at the issue from a more macro perspective. Background of the latest non-farm payroll data Yesterday’s jobs report was not released monthly, but rather combined data from October and November due to a data gap caused by the US government shutdown in October. This alone means that the data needs to be interpreted with more…# Analysis# bitcoin# crypto# defi# Exchange# Market# ToolPre
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