US jobs data revised down by 60,000 after Fed rate hike
- —Payrolls for July and August revised down by 60,000 combined
- —July: +21,000 gain now shows a 10,000 loss
- —August estimate cut by 29,000; unemployment rose to 4.2%
- —16 of 18 FOMC members expected another hike before year-end
Why it matters: The Fed hiked on data now shown to be inaccurate, casting doubt on further tightening and shifting the outlook for risk assets including bitcoin.
Source: Protos