Institutional analyst Jersey stated: "While the market is still pricing in the Federal Reserve's next move as a rate hike, we believe the non-farm payroll report highlights that this action could pose a risk to at least one aspect of the Fed's dual mandate. Although Waller has tried to downplay the importance of the employment mandate, I think the majority of the committee members would be concerned that a rate hike might harm employment. Unless inflation remains consistently above 3% and is expected to stay at that level, they are likely to maintain the current policy rate unchanged before a trend reversal occurs."