Strategists: The latest non-farm payroll report puts the Federal Reserve in a complicated position; last year's rate cuts were a mistake.

Golden Ten Data reported on April 3 that Carson Group Chief Macro Strategist Sonu Varghese stated that the latest labor force data indicates the economy is adding enough jobs to keep up with population growth. However, he noted, “This will present a more complicated situation for the Federal Reserve, and considering rate cuts is meaningless, especially given the magnitude of the upcoming inflation shock.” He added that inflation concerns existed even before the Middle East crisis that triggered the surge in energy prices. “In the end, it appears that last year's rate cuts were a mistake.”