The US economy added 256,000 jobs last month, the most since March, and more than even the most optimistic economists and strategists.
The strength in the labour market provides room for Federal Reserve policymakers to slow, if not outright pause, rate cuts. Policymakers are next scheduled to meet on January 28-29.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
