Wall Street Debates "Overheating" vs. "Cooling Down," Probability of Fed Holding Steady in January Soars

Odaily News The latest U.S. labor data has provided Wall Street with ample arguments to support both the view of an overheating economy and the argument that the economy is dangerously cooling down. December's job growth fell short of expectations, and previous historical data was also revised downward. However, the unemployment rate dropped more than anticipated, and wage growth showed signs of picking up. According to CME Group's FedWatch Tool, this data has prompted investors to increase their bets on the Federal Reserve keeping interest rates unchanged, with the probability rising from 88% to 95%. (Jin10)