As of today, the economic data announced in the USA was on the agenda of traditional financial markets and the cryptocurrency industry. Non-Farm Employment and Unemployment data in the USA proved that the labor market in the USA has weakened.
This incoming data caused crypto assets to experience significant increases. After the data, US Federal Reserve (FED) executives spoke. Here are the latest statements made by FED officials:
Chicago Fed President Austan Goolsbee:
We experienced a large increase in inflation at the beginning of the year.
We need to step back and see what the increase in inflation is.
What happened in the labor market this year needs to be reorganized according to forecasts of increased immigration; I'm still trying to analyze this.
The more job reports like today's, the more comfortable I'll feel.
I think monetary policy is restrictive.
If the Fed remains restrictive for too long, it will have to consider the employment side of its mandate; but the current numbers are solid.
FED Board Member Bowman:
It is unclear whether supply-side improvements will continue to reduce inflation.
Monetary policy appears restrictive.
I still see some upside inflation risks.
I will continue to monitor the data closely to evaluate appropriate monetary policy.
Not Investment Advice