Fed Maintains Rates Unchanged; U.S. Jobless Claims Rise as Global Central Banks Signal Caution

According to financial data compiled by Jin Shi, the U.S. Federal Reserve maintained its policy stance on May 8, with Fed officials indicating rates will remain unchanged for an extended period. Fed Chair Hamac stated the baseline scenario is for rates to stay steady over a longer timeframe, while remaining open to future policy adjustments amid current uncertainties. U.S. corporate layoffs increased 38% month-over-month in April, though year-to-date figures remain 50% lower than last year. Initial jobless claims ticked up slightly last week, reflecting a labor market characterized by low hiring and low layoffs.

Globally, central banks signaled readiness to adjust course. The European Central Bank’s Schnabel warned the ECB may need to raise rates if energy shocks escalate, while the Bank of Japan’s latest intervention could reach 5.01 trillion yen. Indonesia’s central bank chief pledged large-scale currency intervention around the clock, including offshore markets. Serbia’s central bank held its benchmark rate at 5.75%.