TechFlow news, January 9: "Fed whisperer" Nick Timiraos wrote in his latest article regarding the December employment report released tonight: "The report gives Fed officials ample justification to remain on hold at this month's meeting. Nonfarm payrolls increased by only 50,000, and the three-month average of private-sector hiring dropped to 29,000—the second slowest pace all year. This weak job growth highlights the 'slow hiring, slow firing' dynamic in the labor market expected throughout 2025. However, the decline in the unemployment rate has temporarily eased extreme concerns about a deteriorating labor market—the very concern that prompted the Fed to cut rates at each of its past three meetings. The report solidifies market expectations that the Fed will keep rates unchanged at its January 27–28 meeting, but the soft hiring data also ensure that debate over the health of the labor market is far from over." (Jinshi)
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