🚨 The U.S. unemployment rate has climbed to its highest level in four years.
Regardless of whether Jerome Powell acknowledges it, the data suggests the Federal Reserve has misjudged policy. With labor market conditions deteriorating, the remaining options are clearer: deeper rate cuts and a return to liquidity support through quantitative easing.
Historically, this shift in monetary stance favors risk assets. For crypto, the implications are constructive.
