Top economists warn that the non-farm payroll report released on Friday could completely overturn market expectations;
① Top economist Jeremy Siegel warns that the Federal Reserve may unexpectedly keep interest rates unchanged at next week's meeting. While investors are almost certain that the Fed will cut rates by 25 basis points again in November, these expectations could be completely upended if a strong non-farm payroll report is released on Friday;
② Economists expect that the non-farm data to be released on Friday will show the US added 110,000 jobs in October. If this figure significantly exceeds expectations, the market may further adjust its expectations for the extent of Fed rate cuts;
③ Siegel stated in an interview last Friday, "If we see strong labour market data in October, many Fed officials will say, maybe we should pause at this time." Notably, Siegel had previously called for an emergency rate cut of 75 basis points in August.
④ Siegel expects the Federal Reserve to cut rates three to four more times during its easing cycle. However, he stated that in the long run, interest rates may remain at elevated levels. He added that the US stock market looks "strong" and the US economy still shows resilience $BTC