October jobs surge raises odds of December Fed rate hike

October’s stronger-than-expected jobs report has raised the odds of a Federal Reserve rate hike in December. A hike would tighten financial conditions, pushing up borrowing costs and potentially weighing on economic growth and consumer spending. The shift matters for risk assets, including crypto, which have been sensitive to expectations around Fed policy. Traders will watch incoming inflation and labor data, along with Fed commentary, for confirmation of whether a December move is likely.