U.S. Labor Market Gains Momentum in March Despite Tariff Concerns
Unemployment Rate Rises to 4.2% in March
Israel – Hamas War Continues.
Possible Flashpoints in Future: Taiwan, North Korea, Iran and Indo-China Border.
Minutes of Last FOMC Meeting to Be Released on May 22nd.
My Views
Russia – Ukraine War May Go Nuclear.
Unaware Trader on May 4th, 2024.
U.S. Federal Reserve is expected to cut rates in September and December of 2024.
Unaware Trader on May 4th, 2024.
Data Corner
U.S.
Fed Funds Rate
Federal Reserve left its rates unchanged in its meeting in May 2024. Current Range: 5.25% – 5.50%.
Nonfarm Payrolls
Nonfarm Payrolls for April 2024 came way below forecasts (1,75,000 Vs 2,43,000). It is likely to boost Fed’s confidence in current policy stance.
Unemployment Rate
As of April 2024, Unemployment Rate in U.S. stands at 3.90%. This is slightly below the 4.10% that can be expected for a 2.0% inflation target.
Average Hourly Earnings Change (YoY)
Fed should be gaining comfort at the gradual reduction in U.S. Hourly earnings. As of April 2024, it stands at 3.90%.
Consumer Confidence
Consumer Confidence in April 2024 deteriorated in U.S.
