Analysis: Nonfarm payrolls weakened but still grew, and the Fed's decision to hold steady is being reassessed

Odaily Planet Daily News Analyst Eric Merlis said: "The June nonfarm payrolls clearly fell short of expectations, in stark contrast to the consecutive upside surprises seen earlier this year. However, the labor market continues to create jobs, and wage growth has shown almost no signs of acceleration." "With the labor force participation rate weakening and hiring cooling, the Fed's decision to hold steady last month no longer looks like a policy mistake, but rather a cautious and patient approach. At the same time, the market is repricing: as inflation discussions continue, the likelihood of future rate hikes is decreasing." (Jinshi)