ADP Report Miss Fuels 50% Rate Cut Bets
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币界网报道：The ADP employment report showed private payrolls rose by 107,000 in January, below the expected 145,000, fueling speculation the Federal Reserve may cut interest rates by 50 basis points this year. The weaker-than-expected jobs data follows recent dovish signals from Fed Chair Jerome Powell, who indicated rate cuts could begin in 2024 if inflation continues cooling. Markets are now pricing in over 140 basis points of Fed rate cuts in 2024, with a 50% chance of a 50-basis-point reduction by mid-year. The report adds to concerns about slowing economic growth as higher borrowing costs weigh on hiring and business activity.
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