HTX DeepThink: Resilient Employment Challenges Fed Pause Logic as CPI Becomes Key Test

HTX Research analyst Chloe notes that August non-farm payrolls of 162,000 and a 4.1% unemployment rate undermine the logic that the Fed must pause due to rapid labor market deterioration. Market focus has shifted to this week's CPI data, which serves as a stress test for the new policy framework. If core CPI remains high, the Fed may face pressure to maintain its anti-inflation stance. Analysts expect volatile trading for risk assets until the CPI release.