The Fed slows the pace of interest rate cuts

The Financial Times commented on the non-farm data, stating that the United States created 256,000 jobs in December, which exceeded expectations and supported the reasoning for the Federal Reserve to slow down its rate cuts. The employment figure released by the US Bureau of Labor Statistics on Friday exceeded the Reuters analysts' expectations of 160,000, and was also higher than the revised figure of 212,000 in November. The unemployment rate was 4.1%, compared to 4.2% in November. As the December employment data was released, global bond markets experienced a sell-off, partly due to increasing expectations that the Federal Reserve will make a small rate cut in 2025.