Huatai Securities: March Nonfarm Payroll Data Reflects the Resilience of the U.S. Job Market, Inflation Becomes the Core Variable for FED Policy

According to ChainCatcher, citing Golden Ten Data, Huatai Securities believes that the stronger-than-expected U.S. non-farm payrolls data in March demonstrates the resilience of the U.S. job market. However, amid escalating tensions in the Middle East, the impact of high oil prices on inflation expectations is more crucial for Federal Reserve monetary policy. Recently, the ongoing Middle East conflict and the blockade of the Strait of Hormuz have caused an oil supply gap, driving up oil prices and inflation expectations; currently, inflation is the core variable for the Federal Reserve's monetary policy.