According to BlockBeats, recent data, as of July 5th, indicates a gradual cooling down of the US labor market, which is expected to support the anticipation of interest rate cuts later this year. The market currently predicts that the Federal Reserve will cut interest rates twice this year.
This data aligns with other employment reports this week, showing a significant reduction in job vacancies this year and a continuous increase in the number of people applying for unemployment benefits. The ongoing slowdown in employment, coupled with the recent slowdown in inflation, supports the bets of Federal Reserve policymakers that they will cut interest rates as early as September.