Fed's Bostic: Concerned unemployment has gone up, but labor supply is good
Source Fxstreet
Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic noted on Tuesday that his overall outlook on the US labor market remains positive despite an upturn in the unemployment rate.
Key highlights
The balance of risks in the economy is getting back to level.
Our rate posture is restrictive.
Recent inflation data gives me more confidence we can get back to 2%; I want to see a little more data.
We need to make sure the inflation trend is real.
If the economy evolves as I expect, there would be rate cut by the end of the year.
It would be really bad if we cut rates and then had to raise them again.
I am willing to wait for first rate cut but it is coming.
Housing inflation has come down in an important way the last couple of months.
The unemployment rate in grand scheme of things is still historically low.
We still have a strong, solid labor market.
A recession is not in my outlook.
We need to make sure we don't go from a hot labor market to a freezing cold one.
The labor market can slow but without considerable concern.
Contacts don't tell me there are many layoffs, if that continues we'll be in a good place.
The labor market can slow but without considerable concern.
I am concerned that the unemployment has gone up, but more supply is good
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Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
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