Nick Timiraos: The non-farm payroll report basically eliminates the rationale for short-term interest rate cuts

According to Jinshi, "Fed mouthpiece" Nick Timiraos stated that the hiring activity has accelerated again this spring, providing more basis for Federal Reserve officials who are concerned about inflation and believe that the current interest rate level is too low. He pointed out that this employment report will not completely resolve the debate over raising interest rates later this year, but it does indicate that the rationale for cutting rates in the short term has basically disappeared.