Sima Shah, a strategist at Xin'an Asset Management Company, wrote that after today's non-farm report was released, she believes the Fed will not cut interest rates until the end of 2025. "Some Fed officials have already indicated that they are inclined to cut rates as early as this month. Today's data shows that employment numbers are higher than expected, the unemployment rate is falling, and initial jobless claims are falling, completely eliminating their reasons for expecting a rate cut and suggesting that the Fed does not see the urgency of providing supportive policies."