The latest jobs data shows that America's job market remains shockingly robust in the face of the highest interest rates in 23 years.
And the January report could have finally quelled Wall Street's belief that the Federal Reserve could start to cut interest rates as soon as March, according to futures.
About a month ago, the odds of a March cut were north of 75%, but as of Friday morning, they were at 19.5%.
The Fed's March 19-20 meeting is still several weeks away and many economic reports are due by then, but investors finally seem to be coming to grip with what Fed officials have been communicating all along.
The January jobs report shows that demand is expected to remain solid, with Americans employed and enjoying strong wage growth.
Persons:
Jerome Powell, “
Organizations:
Federal Reserve, Fed