TechFlow News, March 4: According to JINSHI Data, the ADP National Employment Report released on Wednesday showed that U.S. private-sector job growth in February exceeded expectations, though the prior month’s figure was significantly revised downward. Private-sector employment rose by 63,000 last month, while January’s figure was revised down from an initially reported gain of 22,000 to just 11,000. The data may suggest that, despite labor market volatility last year caused by uncertainty surrounding import tariffs, conditions have now stabilized. This stabilization—combined with persistently elevated inflation—is seen as a factor encouraging the Federal Reserve to hold interest rates steady this month. Additionally, U.S.-Israeli airstrikes against Iran and Tehran’s retaliatory actions have driven up oil and gas prices, prompting traders to lower their expectations for rate cuts this year amid concerns that the conflict could fuel inflation. As a result, the likelihood of a rate cut in June has substantially diminished. In January, the U.S. central bank maintained its benchmark overnight lending rate within the 3.50%–3.75% range.
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