Lates News

The ADP National Employment Report on Wednesday showed that the February increase in employment in the US private sector exceeded expectations, but the data for the previous month was significantly revised downward. Private sector employment increased by 63,000 last month, while the January data was revised down from the previously reported increase of 22,000 to an increase of 11,000. The data may indicate that despite the uncertainty in the labor market caused by import tariffs last year, it has now stabilized. The stable labor market and continued high inflation are seen as factors encouraging the Federal Reserve to keep interest rates unchanged this month. In addition, the US airstrikes against Iran and Tehran's retaliatory actions have driven up oil and gas prices, causing traders to lower their expectations for interest rate cuts this year due to concerns over conflict-induced inflation. The likelihood of a rate cut in June has now significantly decreased. The US Federal Reserve kept the benchmark overnight interest rate in the range of 3.50% to 3.75% in January.