"Inflation is stuck above target and risks are skewed to the upside. Economic activity is robust. We see little reason for additional easing."

Before the strong December jobs report was released, the odds were already low for an interest rate cut in the next Federal Reserve decision on January 29.

The Federal Reserve has been "less focused on the job market recently," and today’s better-than-expected employment report "gives them more reason to put their attention elsewhere," said Ali Jaffery,