The Federal Reserve is far less likely to start cutting interest rates as soon as September, traders bet on Friday, after a U.S. government report showed employers created many more jobs and paid higher wages last month than expected.

A surprisingly strong May jobs report added to market concerns that inflation pressures in the world's biggest economy remain elevated.

The strong job market is also a surprise, given the fact that the job vacancy rate for April was 4.8% - the first reading below 5% in over 3 years. Given these strong numbers, the job vacancy rate for May might well rise again to 5% or more.

After the European Central Bank (ECB) cut interest rates for the first time since 2019, all eyes are on the Federal Reserve's next interest rate decision. Laffer Tengler Investments CEO and chief investment officer Nancy Tengler joins Catalysts to discuss the state of the economy and the Fed's next move.

The US Federal Reserve could keep interest rates on hold for the rest of 2024, following much stronger than expected jobs market data.