BlackRock: Non-farm payrolls imply the Federal Reserve will maintain the status quo; the macro narrative has been dominated by AI themes.

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BlockBeats News, May 8 — BlackRock Portfolio Manager Jeffrey Rosenberg stated that there is a “trade-off” between strong non-farm payroll data and weak wage growth. From a broader perspective, this report does not actually signal any major changes; for the Federal Reserve, it remains a case of “maintaining the status quo.”

From a more macro perspective, current macroeconomic data has been “dominated by AI themes.” “When we look at GDP data and expenditure, the driving factors are no longer primarily consumption, but more capital expenditure. And when we look at financial markets, what truly matters more is the impact brought by AI.” (Jin10)

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