Investing.com — The blowout December jobs report on Friday underscored the strength in the economy, putting out any remaining embers of hope for sooner rate cuts, UBS said, cautioning that rate cuts later this year will require a slowing in labor market and inflation data in the months ahead.
“Given the overall strength of the recent economic data, there is little reason for the Fed to consider cutting rates anytime soon,” UBS Senior US Economist Brian Rose said in a note.
The nonfarm payrolls report for December showed nonfarm increased by 256,000, far above consensus expectations of 163,000. The unemployment rate ticked down to 4.1%, returning to June’s level, wh