"Federal Reserve's megaphone": Low employment growth may become the new normal, but it is particularly vulnerable in the context of war
According to Jinshi reports, "Fed mouthpiece" Nick Timiraos wrote that 178,000 new jobs were added in March, reversing the significant decline in February. The unemployment rate also dropped to 4.3%.
However, some details are not very optimistic, as wage growth for ordinary workers has slowed to the lowest year-on-year growth rate in five years since the pandemic recovery. Averaging these two volatile months reveals a clearer underlying trend: an average of only 22,500 new jobs per month. Two years ago, adding 22,500 jobs per month would have raised alarms; today, such a level may still be considered acceptable.
Federal Reserve officials are still trying to explain this change. San Francisco Fed President Mary Daly wrote on Friday, "It is not easy for the public to understand that zero job growth can still be consistent with full employment." This situation is particularly fragile in the face of new supply shocks. If the war in Iran continues, high fuel costs or commodity shortages could squeeze businesses and consumers, leaving the labor market without a buffer to absorb the shocks. Meanwhile, concerns about inflation may weaken the certainty of interest rate cuts, further limiting the Fed's policy space.
You may also like

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies

The cryptocurrency industry has entered the "Show Me" era: merely relying on vision is no longer enough

Interpreting the Ethereum Foundation's new structure: Reaffirming self-sovereignty amid institutional trends

Former SpaceX engineer reconstructs the financial execution system using first principles

Tidal Investment: We still have a positive outlook on the AI industry chain, but the reasons have changed

Standard Chartered Bank sings a 50x rhapsody again, aiming for AAVE to reach 3500 USD

The interim executive director of the Ethereum Foundation speaks out: What is our mission?

Why does OKX want to start a new company with the parent company of the New York Stock Exchange?

Why Is PAXG Price Different From Gold? 5 Reasons Crypto Traders Should Know

WEEX OpenAPI 101: 5 Powerful Modules, AI Trading Tools, and Grab Up to 70% Revenue Opportunities
Learn how WEEX OpenAPI connects traders, developers, AI agents, and trading platforms. Discover WEEX API features, Binance-compatible integration, automated trading workflows, revenue opportunities, and ecosystem possibilities.

Interview with NDV Founder Jason Huang: Popping the AI Bubble and the Myth of Microstrategy, Seeking the Ultimate Ace in the Crypto Market

Morning Report | Former Ethereum Foundation researcher establishes Ethlabs; EU Parliament Economic Committee passes digital euro regulatory proposal

Dragonfly partner Haseeb: The fastest-growing companies in the future may all be stuck at 149 people

How xBubble Breaks the Deadlock in VC's Heavy Investment in the OPC Economy

The encrypted unicorn Blockstream is deeply embroiled in a serious fraud case

Morning Report | The South Korean Financial Services Commission plans to expand the regulatory sandbox to include virtual assets; the parent company of the New York Stock Exchange, ICE, has reached a partnership with OKX to jointly establish a cryptocu...

Exclusive Interview with Strategy CEO: Putting Aside the Sale of 32 BTC, the 60 Trillion AI Intelligence is the Ultimate Fate of Bitcoin

