Initial jobless claims surged to 263,000 last week, marking the highest level in four years and highlighting concerns over a cooling labor market. Although inflation rose more than expected in August with consumer prices reported at 2.9% and a core rate of 3.1%, investors shifted their focus to jobless claims. They expressed concerns about stagflation, an economic scenario characterized by high inflation and stagnant growth. While Bitcoin and Ethereum saw modest increases, altcoins such as Solana, XRP, and Dogecoin experienced more substantial gains—11%, 6.6%, and 17% respectively. Experts predict that the Federal Reserve will prioritize stimulating growth, with anticipation for imminent rate cuts. These developments suggest that while inflation remains a concern, the central bank may face challenges in balancing inflation control with the need to support employment. Analysts warn that the upcoming months could be difficult as tariffs affect prices and job stability across America.

Source 🔗