An increase in the number of U.S. jobs that was higher than expected makes it unlikely that the Federal Reserve will cut interest rates soon.

The US president has repeatedly called on the Fed to lower rates, but thus far has not said by how much.  Read more at straitstimes.com. Read more at straitstimes.com.

"Chair Powell said that he and his colleagues on the FOMC will set monetary policy, as required by law, to support maximum employment and stable prices and will make those decisions based solely on careful, objective, and non-political analysis," the statement said.