Weak US Employment Data: What Does it Mean for Bitcoin (BTC) and Potential Interest Rate Cuts?

• The Federal Reserve’s (FED) decision to keep interest rates steady raises questions about the implications of weaker-than-expected economic data. Could a rate cut be on the horizon?
• According to a note from Fitch Ratings analyst Olu Sonola, the FED is likely to refrain from making an urgent change in U.S. interest rates. This comes in response to lower-than-expected employment figures for April.
• Sonola suggests that the FED will need more evidence to be sure that the U.S. employment market is showing signs of cooling. “This slowdown in employment growth is good news for those expecting an immediate rate cut,” says Sonola.

Amid weaker-than-expected economic data, the Federal Reserve’s decision to keep interest rates steady has sparked speculation about a potential rate cut. Fitch Ratings analyst Olu Sonola provides insights into the situation.