On Tuesday (February 7) local time, Minneapolis Fed President Kashkari said that the strong employment data in January showed that the US Fed still has more work to do to curb inflation and needs to continue to raise interest rates.
According to data released last Friday, the number of non-farm employees in the US increased 517,000 in January, almost three times the market expectation of 185,000, the highest level since July 2022; the unemployment rate dropped from 3.5% in December 2022 to 3.4% In January 2023, the lowest since 1969.