Strong jobs report to keep Fed on hold as war and energy prices make inflation the bigger worry

A stronger-than-expected April jobs report is expected to keep the Federal Reserve on hold as Kevin Warsh prepares to take over as chair in a week.

“The April employment report…reinforces the view that the labor market is stabilizing, allowing the Fed to focus on policing the oil shock to ensure it is not contaminating underlying inflation more than expected,” said Marco Casiraghi, economic and central bank strategist for Evercore ISI...

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RSK: This combined with a few other factors could raise interest rates by year-end....not good.