Although official data shows that the unemployment rate in the United States remained at 4.2% in May, the actual number has risen to 4.244%, reaching a new high in nearly three years. It appears stable, but in reality, the job market is quietly weakening.

This is a warning signal for the Federal Reserve — the economy may begin to tighten. If the unemployment rate continues to rise, the pressure on the Federal Reserve to cut interest rates will actually increase. But the issue is, wages are still rising, and inflationary pressures have not fully dissipated.

Right now, the Federal Reserve is caught in a dilemma: the job market is softening and needs support; inflation is stubborn, and they cannot easily loosen policy. Whether or not to cut interest rates will depend on how the upcoming data unfolds. #非农就业数据来袭