U.S. job growth blows past forecasts, setting stage for Fed rate hikes

CoinDesk Staff

(12:57 PM UTC)

1 min read

Bitcoin is now facing another headwind — the prospect of higher interest rates.

The U.S. economy added 172,000 jobs in May, nearly double economists' expectations, strengthening the case for Federal Reserve rate hikes this year.

The unemployment rate held steady at 4.3%, according to data released Friday by the Bureau of Labor Statistics.

Bitcoin BTC$62,300.09 remained under pressure following the…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

Add COINOTAG as a Preferred Source

Add COINOTAG to your preferred sources in Google News and Search to see our coverage first.

Add on Google

Comments