Svmuureports that institutional analyst Jersey commented on the US non-farm payroll data, stating that it is difficult to describe the job market as weak. For the interest rate market, the risk is becoming more tilted towards rate hikes, with the likelihood of rate cuts decreasing. Kevin Warsh will find it difficult to convince other members of the Federal Reserve's Monetary Policy Committee to lower rates. Jersey stated that he does not believe a rate hike is imminent, but if several more months of similar job growth occur, multiple rate hikes would become his base case scenario.