According to CoinMeta, the number of people filing for unemployment benefits in the United States at the beginning of the week on October 24 was 194,000, which is lower than the expected 199,000. The previous figure was revised from 194,000 to 195,000. The low number of initial unemployment claims indicates that the demand for labor in the U.S. market is extremely strong. This tight job market supports wage growth, which in turn exacerbates the stickiness of core inflation. Faced with such robust employment data, the Federal Reserve has ample confidence to maintain its high-interest-rate policy. The market must revise its previous aggressive bets on loose monetary policies, and the high-interest-rate environment is likely to continue for a longer period.