... while on the surface, employers may be moderately more willing to take on new employees, the incentives offered to potential hires appear to be muted with wages fizzling after a pop at the turn of the calendar. 


With the February wage report posting a clear loss of momentum, it appears the skeptics at the Fed -- and in the market -- may be more accurately assessing domestic inflation, gaining support for a slower pace of rate hikes, and undermining the expectation for three interest rate increases over the remaining 10 months of the year.

That being said, according to Bloomberg, the probability of a March rate hike remains near 100 percent.

However, going forward, with the Fed setting the bar relatively high amid expectations for inflation to "move up" this year, without clear indications of rising inflation, let alone amid a further decline in price pressures, the Fed will have a very difficult time justifying any additional removal of accommodation.

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