US Unemployment Rate Decreases, Traders Increase Bets on Fed Pausing Rate Cuts

BlockBeats News, January 9th: The latest employment data from the U.S. Department of Labor has led traders to increase their bets on the Federal Reserve pausing rate cuts. However, traders still expect the Federal Reserve to cut rates by 50 basis points this year.

At the time of writing, the probability of no rate cut by the Federal Reserve in January on Polymarket briefly rose to 96%, with the probability of a rate cut at only 5%.