U.S. non-farm data far exceeded expectations, which may ease the pressure on the Federal Reserve to cut interest rates

ChainCatcher news, according to Jinshi Data, the U.S. non-farm payrolls unexpectedly increased by 147,000 in June, which not only exceeds the 144,000 new jobs in May but also significantly surpasses the general prediction of 110,000 by economists, indicating that the U.S. labor market has successfully resisted the uncertainties brought by the Trump administration's trade and immigration policies.

This unexpectedly strong data will alleviate 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 a rate cut in July "is still under consideration," which seems to reverse his previous stance of "keeping rates unchanged until fall."