"While the market is still pricing in a rate hike as the Fed's next move, we believe the non-farm payroll report highlights that this move could pose a risk to at least one of the Fed's dual mandates," said institutional analyst Jersey. "Despite Warsh's attempts to downplay the importance of the jobs mandate, I think most committee members will be concerned that a rate hike could harm jobs, and they will keep the current policy rate unchanged until the trend reverses, unless inflation persists above 3% and is expected to remain above that level."
