According to online reports, Simon Shah, strategist at Principal Asset Management, wrote that after today's non-agricultural report was released, she believed that the Federal Reserve would not cut interest rates until the end of 2025. "Some Fed spokespersons have said they prefer to cut interest rates as early as this month. Today's data showed higher-than-expected employment, a drop in unemployment and a drop in initial jobless claims, which completely eliminated their reason for an imminent rate cut and suggested that the Fed had no urgency to provide supportive policies."