US non farm payroll data far exceeds expectations, may ease pressure on Federal Reserve to cut interest rates

According to BlockBeats, on July 3rd, the non farm payroll in the United States unexpectedly increased by 147000 in June, which is not only higher than the 144000 new jobs added in May, but also significantly exceeds the widely predicted 110000 by economists, indicating that the US labor market has successfully resisted the uncertainty brought by the Trump administration's trade and immigration policies. This unexpectedly strong data will ease the pressure on the Federal Reserve to cut interest rates, despite Trump's repeated public calls for the bank to take action. Federal Reserve Chairman Powell stated this week that the July rate cut is still under consideration, seemingly reversing his previous stance of keeping interest rates unchanged until the fall. (Golden Ten)