April payrolls printed at 115K against a 65K consensus, but University of Michigan Consumer Sentiment hit an all-time low of 49.8 and 1-year inflation expectations jumped 90bps to 4.7%. The Fed has nowhere clean to move.
April nonfarm payrolls added 115,000 jobs with the unemployment rate holding steady at 4.3 percent, giving Federal Reserve officials greater flexibility to monitor inflation as wage growth moderates. Source
