📥Non-Farm Payroll Report

🔹Previous: 228k

🔹Estimate: 138k

♦️Current: 177k

After this data, President Trump began pressing Powell to lower interest rates, and he has hinted at that already. But, is the report decisive?

The truth is no. The data does not yet reflect the impact of tariffs, especially with the beginning of a decline in Chinese shipments. The biggest effect may appear in the May report that will be released in June.

Even if Powell lowers the interest rate, this could encourage the U.S. administration to proceed with a greater escalation in the tariff file!