Opinion: Non-farm payroll data may keep the Federal Reserve's current policy unchanged

Eric Winograd, head of developed market economics research at Alliance Bernstein, said the labor market is much more important to the Fed than what happens with tariffs. The jobs numbers are volatile and anything can happen in any month. But nothing in particular makes us think that the non-farm payroll data for January will be markedly different from the past few months, which is enough to keep the Fed on hold.