News

Jinse Finance reported that data released by the U.S. Department of Labor on the 5th showed that in August, the U.S. unemployment rate rose to 4.3%, reaching a nearly four-year high. The deterioration in employment data has strengthened market expectations for a Federal Reserve rate cut, with analysts predicting that the Fed may start a new round of rate cuts in September. Data released by the CME FedWatch Tool on the evening of the 5th indicated that the weak labor market has increased market expectations for the Fed to cut rates by at least 25 basis points at its September monetary policy meeting, and a 50 basis point cut cannot be ruled out. (CCTV News)

Jinse Finance reported, citing local media, that Belarusian President Alexander Lukashenko has urged the government to implement stricter regulation of the crypto industry. According to the report, Lukashenko warned that lax regulation is harming investor security and the country's economic interests. A national audit found that about half of citizens' investments were transferred to foreign crypto platforms without any returns, which the president condemned at a high-level government meeting. The inspection conducted by the National Regulatory Committee also uncovered violations in the registration process of domestic financial platforms.