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The U.S. August non-farm payroll report is set to be released on Friday, with market expectations of 55,000 new jobs. Former Federal Reserve Governor Warsh previously stated that the economy is at full employment with high inflation. Analysts believe that strong data could push up U.S. Treasury yields and suppress U.S. equities.
The US August non-farm payrolls report is due on Friday, with market consensus expecting 55,000 new jobs and the unemployment rate to remain unchanged at 4.1%. Federal Reserve Chairman Warsh has clearly stated at the Jackson Hole symposium that the economy is currently at full employment, and inflationary pressures remain high. Analysis firms such as JPMorgan Chase believe that against this backdrop, strong employment data could push up bond yields and suppress US stocks, creating a "good news is bad news" market logic. Bloomberg Chief Economist Anna Wong pointed out that if August non-farm payrolls record a negative value again, there is no precedent in the modern history of the Federal Reserve for it to raise interest rates after two consecutive months of negative non-farm growth. JPMorgan Chase also stated that next week's CPI data will have a greater impact on the Federal Reserve's September 16 meeting than this non-farm report.
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