The CNN economy expert Alexandre Schwartsman commented, this Monday (7), on the labor market data in the United States, released at the end of last week.
“There were several surprises, the first regarding the January number. The creation of 150,000 jobs was expected – in line with the last few months – and 540,000 new jobs were created”, highlighted Schwartsman.
According to the expert, the figures forced a review of past data and found that the “weakness of the US economy was apparent”. “In fact, the US economy created 250,000 more jobs in 2021 than previously thought.”
With this change, experts reassessed the prospects for interest rates in the United States and now do not talk about 4 or 5 hikes, but stronger hikes.
Schwartsman pointed out that the result of these numbers is a global strengthening of the dollar against all currencies, whose impacts will also be felt in Brazil.
“And on top of the greater growth of the North American economy, we have the prospect of higher commodity prices, whose impacts are also on Brazilian inflation, mainly for oil”, he explained.
“All this work shows that the task of the Central Bank (of Brazil) of bringing inflation to the target in the next two years is getting more complicated and the prospects for an increase in interest rates in Brazil are getting even greater.”
Source: CNN Brasil
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