A hot December jobs report has many strategists confident that the Federal Reserve will hold off on further interest rate cuts for now.
And some on Wall Street think this report may have even cracked the door open for the Fed to consider rate hikes in 2025.
"Our base case has the Fed on an extended hold," Bank of America Securities US economist Aditya Bhave wrote in a note to clients on Friday. "But we think the risks for the next move are skewed toward a hike."