"The US employment machine notably lost momentum in March, with just 126,000 new jobs added – far fewer than the consensus expectation of around 250,000 – and with revisions erasing 69,000 from the previous two months' total, according to the Labor Department. The lackluster result ends an impressive 12-month run of job gains in excess of 200,000."
"New York Fed President William Dudley said the pace of rate increases is likely to be 'shallow' once the Fed starts to tighten."His comments were the first from the inner core of the Fed's leadership since a government report showed payrolls expanded less than forecast in March."While data signaling rates near zero for longer have previously been welcomed by American equity investors, concern is building that economic weakness will worsen the outlook for corporate profits."
"The report is a further reminder of how much more the US economy could – and should – achieve if it weren't for political dysfunction in Washington and a "do little" Congress that preclude more comprehensive structural reforms, infrastructure spending and a more responsive fiscal policy."