Economists anticipate a decline in US job growth in March, which may affect financial markets and the Federal Reserve's policy.
Experts' Predictions on US Labor Market
Experts forecast a slowdown in US non-farm payroll growth to 135K in March from 151K in February. The unemployment rate is expected to remain steady at 4.1%. This decrease is linked to broader economic uncertainties affecting labor hiring.
Fed Rate Cut Probabilities Increase
CME data shows an increased likelihood of a 25 basis-point cut by the Fed, rising to 28.9%. Fed Chair Jerome Powell stated, "We are closely monitoring labor market developments as they significantly impact our monetary policy."
Impact on Cryptocurrency Market
Anticipated labor market shifts could profoundly influence cryptocurrencies like Bitcoin. It is expected that the slowdown in job growth may bolster investor confidence in assets seen as safe havens, impacting crypto market trends.
The anticipated slowdown in US job growth may lead to changes in the Fed's monetary policy, subsequently influencing financial markets and cryptocurrencies.
