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The U.S. job market experienced a turbulent period, gaining 64,000 jobs in November but losing 105,000 in October, largely due to federal worker departures. The unemployment rate rose to 4.6%, its highest since 2021, signaling a significant cooling of hiring momentum amidst economic uncertainties, delayed government reports, and the Federal Reserve's divided stance on interest rates.
The Federal Reserve faces a deeply divided meeting this week, testing Chair Jerome Powell's ability to secure support for a third interest rate cut amidst conflicting economic signals of high inflation and weak hiring.
The Federal Reserve is caught in a complex economic dilemma, attempting to safeguard the labor market with rate cuts while battling persistent inflation exacerbated by President Trump's trade war and his efforts to undermine the central bank's independence.
Wholesale egg prices have plummeted, signaling an end to the months-long shortage and price hikes. Experts attribute the drop to decreased avian flu cases and reduced consumer demand.
President Trump's refusal to rule out a recession, coupled with market anxieties over his trade policies, has led to significant stock market drops. Experts weigh in on the economic transition and the uncertainty surrounding Trump's long-term economic strategy.
